EUR/CHF – 30M – BUYThe pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline up.
A bullish trend upwards to the next resistance at 0.93440 is expected.
Caution: A possible reversal of the trend in the direction of the support line at 0.92045 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bullish Engulfing’ candle chart pattern is existing. The chart shows ‘Bullish Engulfing’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93697 |
| 2nd High | 0.93653 |
| Next High | 0.93440 |
| Current Price | 0.93258 |
| Next Low | 0.92045 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing