EUR/CHF – 30M – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance line at 0.93233 will continue.
Caution: A possible counter-trend in the direction of the support level at 0.92768 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93385 |
| 2nd High | 0.93263 |
| Next High | 0.93233 |
| Current Price | 0.93176 |
| Next Low | 0.92768 |
| 2nd Low | 0.92696 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing