EUR/CHF – 30M – BUYAdditionally a ‘Double bottom chart pattern’ chart formation is detected. The chart picture shows ‘Double bottom chart pattern’. which is a bullish chart scenario. The pair is likely to go up.
The pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance line at 0.93462 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 0.93356 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bullish chart signal. The currency pair could go up.
Additionally a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. which could be a positive chart scenario. The currency pair could go up.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is likely expected. Current target is 0.93479292 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 0.93462 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ candle pattern is found. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93539 |
| 2nd High | 0.93497 |
| Next High | 0.93462 |
| Current Price | 0.93476 |
| Next Low | 0.93356 |
| 2nd Low | 0.93286 |
| 3rd Low | 0.9326 |
0.93462 – 0.93497 – 0.93539 – 0.93356 – 0.93363 – 0.93371 — 50.543765337577 – 63.360507865208 — 40.403397027601 – 61.598422808614 – 38.00525730462 – 43.429380244667
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Northern Doji – Double bottom chart pattern – –