The pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline upwards
An ascending movement up to the next resistance line at 0.93666 is expected.
Caution: A possible counter-trend in the direction of the support level at 0.93410 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Bullish Engulfing’ chart pattern is existing. The candles show ‘Bullish Engulfing’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
Support & Resistance | Price Range* |
---|---|
3rd High | 0.94176 |
2nd High | 0.93879 |
Next High | 0.93666 |
Current Price | 0.93604 |
Next Low | 0.93410 |
2nd Low | 0.93385 |
3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing