EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at 0.93932 is likely expected.
Caution: A possible trend reversal in the direction of support at 0.93535 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ candlestick chart pattern is discovered. The chart forms ‘Northern Doji’. which 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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94129 |
| 2nd High | 0.94045 |
| Next High | 0.93932 |
| Current Price | 0.93897 |
| Next Low | 0.93535 |
| 2nd Low | 0.93224 |
| 3rd Low | 0.93179 |
0.93932 – 0.93803 – 0.9381 – 0.93535 – 0.93224 – 0.93179 — 56.675375762464 – 61.145054026778 — 26.764892586282 – 55.172279330051 – 17.201284709327 – 31.071032917536
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Northern Doji – – –