EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance level at 0.94021 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 0.93837 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Bullish Engulfing’ chart pattern is existing. The candles form ‘Bullish Engulfing’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94398 |
| 2nd High | 0.94193 |
| Next High | 0.94021 |
| Current Price | 0.93946 |
| Next Low | 0.93837 |
| 2nd Low | 0.93826 |
| 3rd Low | 0.93716 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing