EUR/CHF – 4H – BUYThe combination Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline down.
A bearish descent downwards to the next support at 0.93716 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 0.94398 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Meeting Lines’ candlestick chart pattern is found. The chart shows ‘Bullish Meeting Lines’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94407 |
| Next High | 0.94398 |
| Current Price | 0.93901 |
| Next Low | 0.93716 |
| 2nd Low | 0.93297 |
| 3rd Low | 0.92859 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Meeting Lines