EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline up.
An ascending movement upwards to the next resistance level at 0.93450 is expected.
Caution: A possible counter-trend in the direction of the support level at is also possible.
Consider stop-loss settings accordingly.
Then a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bullish chart scenario. The pair is likely to go up.
Then a ‘Bullish Engulfing’ candle pattern is discovered. The chart forms ‘Bullish Engulfing’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93879 |
| 2nd High | 0.93475 |
| Next High | 0.93450 |
| Current Price | 0.93358 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.93450 – 0.93475 – 0.93879 – 0.93121 – 0.93011 – 0.93363
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing