EUR/CHF – 30M – BUYThe pair Euro/Swiss Franc (EUR/CHF) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support at 0.93363 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 0.93742 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ chart pattern is found. The chart shows ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
And also a ‘Resistance Level’ indicator layout is existing. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93831 |
| 2nd High | 0.93766 |
| Next High | 0.93742 |
| Current Price | 0.93638 |
| Next Low | 0.93363 |
| 2nd Low | 0.92978 |
| 3rd Low | 0.92750 |
0.93742 – 0.93586 – 0.93504 – 0.93363 – 0.92978 – 0.93225
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Northern Doji