EUR/CHF – 4H – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline up.
An ascending movement upwards to the next resistance line at 0.93530 is considered certain.
Caution: A possible trend reversal in the direction of support at 0.92216 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Tweezers Bottom’ candle pattern is detected. The candles form ‘Tweezers Bottom’. this 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 ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).
Furthermore a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which could be a positive signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.95001 |
| 2nd High | 0.94087 |
| Next High | 0.93530 |
| Current Price | 0.93137 |
| Next Low | 0.92216 |
| 2nd Low | |
| 3rd Low |
0.93530 – 0.94087 – 0.95001 – 0.92216 – 0.93006 – 0.95118
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Tweezers Bottom