EUR/CHF – 4H – BUYThe combination Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 0.94398 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 0.93716 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 0.94407 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.94398 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Three Outside Up’ candle chart pattern is existing. The candles show ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94407 |
| Next High | 0.94398 |
| Current Price | 0.94158 |
| Next Low | 0.93716 |
| 2nd Low | 0.93297 |
| 3rd Low | 0.92859 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up