EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance level at 0.94062 is certain.
Caution: A possible trend reversal in the direction of the support level at 0.93371 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart shows ‘Three Outside Up’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94193 |
| 2nd High | 0.94186 |
| Next High | 0.94062 |
| Current Price | 0.93968 |
| Next Low | 0.93371 |
| 2nd Low | 0.93297 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Up