EUR/CHF – 4H – BUYThe pair Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline down.
The bearish trend down to the next support level at 0.92555 will continue.
Caution: A possible change in the direction of the resistance zone at 0.94423 is within the realm of possibility.
Consider stop-loss settings accordingly.
Additionally a ‘Three Outside Up’ candle chart pattern is found. The candles form ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.94608 |
| Next High | 0.94423 |
| Current Price | 0.94130 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up