EUR/CHF – 1H – BUYThe pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline up.
A bullish movement upwards to the next resistance level at 0.93806 is considered certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.93412 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The pair is likely to go up.
In addition a ‘Bullish Tri-Star’ candle pattern is detected. The chart forms ‘Bullish Tri-Star’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Tri-Star’ going up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94277 |
| 2nd High | 0.94014 |
| Next High | 0.93806 |
| Current Price | 0.93468 |
| Next Low | 0.93412 |
| 2nd Low | 0.93325 |
| 3rd Low | 0.93072 |
0.93806 – 0.94014 – 0.94277 – 0.93412 – 0.93504 – 0.93325
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Tri-Star –