EUR/CHF – 30M – BUYThe pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline upwards
A bullish ascent up to the next resistance level at 0.93666 is likely expected.
Caution: A possible change in the direction of the support level at 0.93410 could happen.
Consider stop-loss settings accordingly.
Then a ‘Bullish Engulfing’ candle chart pattern is found. The chart shows ‘Bullish Engulfing’. which 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 probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93666 |
| Current Price | 0.93604 |
| Next Low | 0.93410 |
| 2nd Low | 0.93385 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing