EUR/CHF – 1H – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support at 0.92922 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.93242 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 0.92824828 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support zone at 0.93242 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Matching Low’ candle pattern is existing. The candles form ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93298 |
| 2nd High | 0.93255 |
| Next High | 0.93242 |
| Current Price | 0.92935 |
| Next Low | 0.92922 |
| 2nd Low | 0.92768 |
| 3rd Low | 0.92696 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low