EUR/CHF – 1H – BUYIn addition a ‘Double top retreat up’ chart formation is existing. The formation shows ‘Double top retreat up’. which is a positive pattern signal. The currency pair is likely to rise.
The combination Euro/Swiss Franc (EUR/CHF) jumps from the bearish trendline upwards
An ascending movement upwards to the next resistance level at 0.93865 is likely expected.
Caution: A possible trend reversal in the direction of the support line at 0.93347 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Northern Doji’ candlestick chart pattern is existing. The candles form ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94129 |
| 2nd High | 0.94045 |
| Next High | 0.93865 |
| Current Price | 0.93576 |
| Next Low | 0.93347 |
| 2nd Low | 0.93219 |
| 3rd Low | 0.93138 |
0.93865 – 0.94045 – 0.94000 – 0.93567 – 0.93706 – 0.93779 — 40.9683182258 – 42.83086516193 — 23.975846180904 – 39.633938660325 – 19.929384170379 – 27.025343655944
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Northern Doji – Double top retreat up – –