EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline downwards
A bearish trend downwards to the next support level at 0.93814 is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 0.94407 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bullish Engulfing’ candle chart pattern is existing. The chart shows ‘Bullish Engulfing’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 0.94423 |
| Next High | 0.94407 |
| Current Price | 0.94289 |
| Next Low | 0.93814 |
| 2nd Low | 0.93650 |
| 3rd Low | 0.93489 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing