EUR/CHF – 30M – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 0.93371 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.94186 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Matching Low’ chart pattern is detected. The chart forms ‘Matching Low’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94398 |
| 2nd High | 0.94193 |
| Next High | 0.94186 |
| Current Price | 0.93891 |
| Next Low | 0.93371 |
| 2nd Low | 0.93297 |
| 3rd Low | 0.93057 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low