EUR/CHF – 30M – BUYThe pair Euro/Swiss Franc (EUR/CHF) goes from the bullish trendline down.
A bearish descent down to the next support at 0.93748 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 0.93973 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Southern Doji’ candlestick chart pattern is found. The chart shows ‘Southern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Southern Doji’ heading up is 51% (Bull Market) & 52% (Bear Market).
Besides a ‘Double top chart pattern’ chart pattern is existing. The formation shows ‘Double top chart pattern’. which is a negative chart scenario. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94369 |
| 2nd High | 0.94066 |
| Next High | 0.93973 |
| Current Price | 0.93766 |
| Next Low | 0.93748 |
| 2nd Low | 0.93691 |
| 3rd Low | 0.93614 |
0.93973 – 0.94066 – 0.94369 – 0.93748 – 0.93691 – 0.93614
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Southern Doji