EUR/CHF – 1H – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 0.92911 will continue.
Caution: A possible trend reversal in the direction of resistance at 0.93262 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Stick Sandwich’ candle chart pattern is detected. The chart forms ‘Stick Sandwich’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Stick Sandwich’ heading up is 62% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93440 |
| 2nd High | 0.93298 |
| Next High | 0.93262 |
| Current Price | 0.92950 |
| Next Low | 0.92911 |
| 2nd Low | 0.92884 |
| 3rd Low | 0.92768 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Stick Sandwich