EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline upwards
A bullish movement up to the next resistance line at 0.93666 is certain.
Caution: A possible change in the direction of the support line at 0.93410 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Engulfing’ candle pattern is found. The candles form ‘Bullish Engulfing’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93666 |
| Current Price | 0.93604 |
| Next Low | 0.93410 |
| 2nd Low | 0.93385 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing