EUR/CHF – 4H – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline up.
An ascent upwards to the next resistance level at 0.9354 is expected.
Caution: A possible counter-trend in the direction of the support level at 0.93138 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Northern Doji’ candle chart pattern is found. The candles show ‘Northern Doji’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94045 |
| 2nd High | 0.93954 |
| Next High | 0.9354 |
| Current Price | 0.93462 |
| Next Low | 0.93138 |
| 2nd Low | 0.93059 |
| 3rd Low | 0.92978 |
0.9354 – 0.93954 – 0.94045 – 0.93138 – 0.93179 – 0.93599 — 47.969531590311 – 52.540385267421 — 61.199919871795 – 76.063701923077 – 58.20237652477 – 64.628739316239
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Northern Doji – – –