EUR/CHF – 30M – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline upwards
An ascending movement up to the next resistance line at 0.94042 is expected.
Caution: A possible change in the direction of support at 0.93716 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 0.94057 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance line at 0.94042 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ chart pattern is discovered. The chart forms ‘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 chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94398 |
| 2nd High | 0.94193 |
| Next High | 0.94042 |
| Current Price | 0.93905 |
| Next Low | 0.93716 |
| 2nd Low | 0.93650 |
| 3rd Low | 0.93540 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up