EUR/CHF – 30M – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline upwards
An ascending movement up to the next resistance at 0.93994 is certain.
Caution: A possible reversal of the trend in the direction of the support zone at 0.93837 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Bullish Engulfing’ candle pattern is discovered. The candles show ‘Bullish Engulfing’. which is a positive signal. 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 | 0.94042 |
| 2nd High | 0.94021 |
| Next High | 0.93994 |
| Current Price | 0.93904 |
| Next Low | 0.93837 |
| 2nd Low | 0.93826 |
| 3rd Low | 0.93716 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing