FX.co ★ Patterns EURCHF | Euro (EUR) to Swiss Franc (CHF) Rate in the Forex market

The Bullish pennant signal – Trading instrument EURCHF M30, continuation pattern. Forecast: it is possible to set up a buy position above the pattern’s high of 0.9275, with the prospect of the next move being a projection of the flagpole height.

The Double Top reversal pattern has been formed on EURCHF M30. Characteristics: the upper boundary 0.9230; the lower boundary 0.9201; the width of the pattern is 28 points. Sell trades are better to be opened below the lower boundary 0.9201 with a possible movements towards the 0.9171 level.

On the chart of EURCHF M15 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9227; the lower boundary 0.9203; the width of the pattern 24 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9180 level.

According to the chart of M15, EURCHF formed the Head and Shoulders pattern. The Head’s top is set at 0.9224 while the median line of the Neck is found at 0.9212/0.9213. The formation of the Head and Shoulders pattern evidently signals a reversal of the upward trend. In other words, in case the scenario comes true, the price of EURCHF will go towards 0.9190.

According to the chart of M30, EURCHF formed the Bearish Rectangle. The pattern indicates a trend continuation. The upper border is 0.9209, the lower border is 0.9201. The signal means that a short position should be opened after fixing a price below the lower border 0.9201 of the Bearish Rectangle.

According to the chart of M15, EURCHF formed the Bearish Rectangle. This type of a pattern indicates a trend continuation. It consists of two levels: resistance 0.9209 - 0.0000 and support 0.9201 – 0.9201. In case the resistance level 0.9201 - 0.9201 is broken, the instrument is likely to follow the bearish trend.

According to the chart of M5, EURCHF formed the Bearish Symmetrical Triangle pattern. Trading recommendations: A breach of the lower border 0.9216 is likely to encourage a continuation of the downward trend.

The Triple Bottom pattern has been formed on EURCHF M5. It has the following characteristics: resistance level 0.9214/0.9213; support level 0.9210/0.9210; the width is 4 points. In the event of a breakdown of the resistance level of 0.9214, the price is likely to continue an upward movement at least to 0.9224.

The Triple Bottom pattern has formed on the chart of EURCHF M5. Features of the pattern: The lower line of the pattern has coordinates 0.9218 with the upper limit 0.9218/0.9214, the projection of the width is 8 points. The formation of the Triple Bottom pattern most likely indicates a change in the trend from downward to upward. This means that in the event of a breakdown of the resistance level 0.9210, the price is most likely to continue the upward movement.

On the chart of EURCHF M5 the Double Top reversal pattern has been formed. Characteristics: the upper boundary 0.9258; the lower boundary 0.9248; the width of the pattern 10 points. The signal: a break of the lower boundary will cause continuation of the downward trend targeting the 0.9233 level.