EUR/CHF – 4H – BUYNext a ‘Falling Wedge Chart Pattern’ chart layout is discovered. The formation shows ‘Falling Wedge Chart Pattern’. which is a positive pattern signal. The pair is likely to go up.
The pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline up.
An ascent up to the next resistance at 0.93990 is expected.
Caution: A possible reversal of the trend in the direction of the support level at 0.93201 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. this is usually a bullish signal. The currency pair is likely to rise.
Next a ‘Northern Doji’ candlestick chart pattern is existing. The candles show ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94465 |
| 2nd High | 0.94207 |
| Next High | 0.93990 |
| Current Price | 0.94013 |
| Next Low | 0.93201 |
| 2nd Low | 0.92926 |
| 3rd Low | 0.92750 |
0.93990 – 0.93813 – 0.93906 – 0.93201 – 0.92926 – 0.93133
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Northern Doji