EUR/CHF – 30M – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline downwards
A bearish movement downwards to the next support at 0.92555 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.93021 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Engulfing’ candle chart pattern is found. The candles form ‘Bullish Engulfing’. this 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 likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93222 |
| 2nd High | 0.93027 |
| Next High | 0.93021 |
| Current Price | 0.92949 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing