EUR/CHF – 30M – BUYThe pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline upwards
A bullish trend up to the next resistance line at 0.93685 is certain.
Caution: A possible counter-trend in the direction of the support level at 0.93423 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Outside Up’ candlestick pattern is found. The candles show ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94053 |
| 2nd High | 0.93806 |
| Next High | 0.93685 |
| Current Price | 0.93665 |
| Next Low | 0.93423 |
| 2nd Low | 0.93297 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up