EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) jumps from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 0.92978 will persist.
Caution: A possible reversal of the trend in the direction of resistance at 0.93694 could happen.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candlestick pattern is existing. The candles show ‘Northern Doji’. 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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93948 |
| 2nd High | 0.93831 |
| Next High | 0.93694 |
| Current Price | 0.93638 |
| Next Low | 0.92978 |
| 2nd Low | 0.92750 |
| 3rd Low | 0.92384 |
0.93694 – 0.93831 – 0.93948 – 0.92978 – 0.93225 – 0.93113
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Northern Doji