EUR/CHF – 1H – BUYThe pair Euro/Swiss Franc (EUR/CHF) jumps from the bullish trendline downwards
The bearish trend downwards to the next support line at 0.93483 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.94278 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Hammer’ candlestick pattern is detected. The chart shows ‘Hammer’. 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 probability of ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94407 |
| Next High | 0.94278 |
| Current Price | 0.93616 |
| Next Low | 0.93483 |
| 2nd Low | 0.93057 |
| 3rd Low | 0.92859 |