EUR/CHF – 1H – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline down.
A descent down to the next support at 0.93371 is likely expected.
Caution: A possible change in the direction of the resistance zone at 0.94186 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Bullish Belt Hold’ candle pattern is found. The candles show ‘Bullish Belt Hold’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94398 |
| 2nd High | 0.94193 |
| Next High | 0.94186 |
| Current Price | 0.93914 |
| Next Low | 0.93371 |
| 2nd Low | 0.93297 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Belt Hold