EUR/CHF – 30M – BUYNext a ‘Double bottom chart pattern’ chart formation is found. The chart shows ‘Double bottom chart pattern’. which is a positive signal. The currency pair is likely to go up.
The combination Euro/Swiss Franc (EUR/CHF) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance level at 0.94035 is likely expected.
Caution: A possible change in the direction of the support level at 0.93875 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Hammer’ candlestick chart pattern is existing. The candles show ‘Hammer’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Hammer’ heading up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94369 |
| 2nd High | 0.94207 |
| Next High | 0.94035 |
| Current Price | 0.94030 |
| Next Low | 0.93875 |
| 2nd Low | 0.93629 |
| 3rd Low | 0.93603 |
0.94035 – 0.93880 – 0.93762 – 0.93875 – 0.93629 – 0.93603