EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at 0.93810 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 0.93578 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 0.937156 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of resistance at 0.93810 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Latter Bottom’ candle pattern is existing. The chart shows ‘Latter Bottom’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93810 |
| Current Price | 0.93639 |
| Next Low | 0.93578 |
| 2nd Low | 0.93538 |
| 3rd Low | 0.93483 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Latter Bottom