EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) jumps from the bullish trendline down.
A descending movement down to the next support line at 0.93506 will continue.
Caution: A possible change in the direction of the resistance level at 0.94176 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Matching Low’ candle pattern is found. The chart forms ‘Matching Low’. this is a bullish 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’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94608 |
| 2nd High | 0.94423 |
| Next High | 0.94176 |
| Current Price | 0.93646 |
| Next Low | 0.93506 |
| 2nd Low | 0.93358 |
| 3rd Low | 0.92755 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low