EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline up.
A bullish ascent up to the next resistance level at 0.93666 will persist.
Caution: A possible counter-trend in the direction of the support level at 0.93410 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bullish Engulfing’ candle chart pattern is existing. The candles show ‘Bullish Engulfing’. 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 probability of ‘Bullish Engulfing’ going 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