EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance at 0.90544 is expected.
Caution: A possible reversal of the trend in the direction of the support line at 0.90179 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Engulfing’ chart pattern is detected. The candles show ‘Bullish Engulfing’. 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 ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.90717 |
| 2nd High | 0.90707 |
| Next High | 0.90544 |
| Current Price | 0.90371 |
| Next Low | 0.90179 |
| 2nd Low | 0.9006 |
| 3rd Low | 0.89803 |
0.90544 – 0.90467 – 0.90498 – 0.90179 – 0.9006 – 0.90087 —
0.90529 – 0.90335 —
65.76397377874 – 46.37554338542 —
– —
0.90544 – 1773378000
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Bullish Engulfing – – – – – – – – –