EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline downwards
A bearish trend down to the next support at 0.93038 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 0.93298 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Inverted Hammer’ candlestick chart pattern is discovered. The chart shows ‘Inverted Hammer’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Inverted Hammer’ going up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93653 |
| 2nd High | 0.93440 |
| Next High | 0.93298 |
| Current Price | 0.93161 |
| Next Low | 0.93038 |
| 2nd Low | 0.92768 |
| 3rd Low | 0.92696 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Inverted Hammer