Besides a ‘Double bottom chart pattern’ chart pattern is detected. The chart forms ‘Double bottom chart pattern’. which is a positive signal. The currency pair is likely to go up.
The pair Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline down.
A descent downwards to the next support at 0.93603 is certain.
Caution: A possible change in the direction of the resistance zone at 0.93990 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Three Outside Down’ candle chart pattern is found. The chart forms ‘Three Outside Down’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.94465 |
2nd High | 0.94207 |
Next High | 0.93990 |
Current Price | 0.94064 |
Next Low | 0.93603 |
2nd Low | 0.93201 |
3rd Low | 0.92926 |
0.93990 – 0.93813 – 0.93906 – 0.93603 – 0.93201 – 0.92926
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Three Outside Down