EUR/CHF – 4H – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance at 0.94176 is likely expected.
Caution: A possible counter-trend in the direction of the support line at 0.92555 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bullish Engulfing’ candlestick pattern is existing. The candles show ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94608 |
| 2nd High | 0.94423 |
| Next High | 0.94176 |
| Current Price | 0.93360 |
| Next Low | 0.92555 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing