EUR/CHF – 30M – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance at 0.94042 is expected.
Caution: A possible reversal of the trend in the direction of support at 0.93716 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ candlestick chart pattern is existing. The candles show ‘Three Outside Up’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94398 |
| 2nd High | 0.94193 |
| Next High | 0.94042 |
| Current Price | 0.93960 |
| Next Low | 0.93716 |
| 2nd Low | 0.93650 |
| 3rd Low | 0.93540 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up