EUR/CHF – 1H – BUYThe pair Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline up.
An ascent upwards to the next resistance level at 0.94021 is likely expected.
Caution: A possible reversal of the trend in the direction of the support zone at 0.93826 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Up’ candle pattern is existing. The chart shows ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 | 0.94021 |
| Current Price | 0.93942 |
| Next Low | 0.93826 |
| 2nd Low | 0.93716 |
| 3rd Low | 0.93650 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up