EUR/CHF – 1H – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the bearish trendline down.
A continuation of the downward movement down to the next support at 0.93057 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 0.93617 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Matching Low’ candle pattern is found. The chart forms ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93617 |
| Current Price | 0.93576 |
| Next Low | 0.93057 |
| 2nd Low | 0.92859 |
| 3rd Low | 0.92709 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low