EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.
A continuation of the downward movement down to the next support line at 0.92709 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 0.93436 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Inverted Hammer’ candle chart pattern is detected. The chart forms ‘Inverted Hammer’. 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 ‘Inverted Hammer’ heading up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93653 |
| 2nd High | 0.93440 |
| Next High | 0.93436 |
| Current Price | 0.93387 |
| Next Low | 0.92709 |
| 2nd Low | 0.92555 |
| 3rd Low | 0.92045 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Inverted Hammer