EUR/CHF – 1H – BUYThe pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline down.
A bearish descent down to the next support level at 0.93046 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 0.93653 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend is likely expected. Current target is 0.93251512 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of resistance at 0.93653 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three White Soldiers’ candlestick pattern is existing. The chart shows ‘Three White Soldiers’. 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 likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93933 |
| 2nd High | 0.93697 |
| Next High | 0.93653 |
| Current Price | 0.93066 |
| Next Low | 0.93046 |
| 2nd Low | 0.93041 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three White Soldiers