Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 0.93784872 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.94103 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Matching Low’ chart pattern is existing. The chart forms ‘Matching Low’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.94608 |
2nd High | 0.94423 |
Next High | 0.94103 |
Current Price | 0.94025 |
Next Low | 0.93506 |
2nd Low | 0.93358 |
3rd Low | 0.92755 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low