EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline up.
An ascending movement up to the next resistance level at 0.93244 is expected.
Caution: A possible change in the direction of the support line at 0.92045 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 0.93308888 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of resistance at 0.93244 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three White Soldiers’ candle chart pattern is discovered. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93697 |
| 2nd High | 0.93653 |
| Next High | 0.93244 |
| Current Price | 0.93145 |
| Next Low | 0.92045 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three White Soldiers