EUR/CHF – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend is likely 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 zone at 0.93549 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ chart pattern is found. The candles form ‘Three Outside Up’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93549 |
| Current Price | 0.93296 |
| Next Low | 0.93224 |
| 2nd Low | 0.92755 |
| 3rd Low | 0.92717 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up