EUR/CHF – 30M – BUYThe pair Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline up.
A bullish movement upwards to the next resistance line at 0.93455 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 0.93293 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Belt Hold’ candle pattern is discovered. The chart forms ‘Bullish Belt Hold’. this is a bullish pattern signal. The currency 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 | 0.93730 |
| 2nd High | 0.93566 |
| Next High | 0.93455 |
| Current Price | 0.93406 |
| Next Low | 0.93293 |
| 2nd Low | 0.93059 |
| 3rd Low | 0.92926 |
0.93455 – 0.93566 – 0.93730 – 0.93293 – 0.93059 – 0.93349
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Belt Hold –