EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance at 0.93666 is certain.
Caution: A possible change in the direction of the support level at 0.93410 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Engulfing’ candlestick pattern is existing. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading 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