EUR/CHF – 1H – BUYCorrection of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 0.93448672 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance level at 0.93879 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ candle pattern is detected. The candles show ‘Three Outside Up’. which is a positive pattern signal. The 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 | 0.94423 |
| 2nd High | 0.94176 |
| Next High | 0.93879 |
| Current Price | 0.93345 |
| Next Low | 0.93224 |
| 2nd Low | 0.92709 |
| 3rd Low | 0.92555 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up