EUR/CHF – 30M – BUYThere is also a ‘Double bottom retreat down’ chart layout is found. The formation shows ‘Double bottom retreat down’. which is a bearish chart scenario. The currency pair is likely to go down.
The combination Euro/Swiss Franc (EUR/CHF) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance level at 0.94184 will persist.
Caution: A possible reversal of the trend in the direction of the support level at 0.93901 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which could be a positive signal. The currency pair could go up.
There is also a ‘Bullish Belt Hold’ candlestick chart pattern is existing. The candles form ‘Bullish Belt Hold’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94285 |
| 2nd High | 0.94224 |
| Next High | 0.94184 |
| Current Price | 0.94174 |
| Next Low | 0.93901 |
| 2nd Low | 0.93792 |
| 3rd Low | 0.93608 |
0.93958 – 0.94184 – 0.94034 – 0.93901 – 0.93792 – 0.93608
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Belt Hold