EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) goes from the ascending trendline down.
A descending movement down to the next support at 0.93538 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 0.93810 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candlestick chart pattern is discovered. The candles form ‘Matching Low’. this is a bullish pattern signal. The currency 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 | 0.94176 |
| 2nd High | 0.93879 |
| Next High | 0.93810 |
| Current Price | 0.93634 |
| Next Low | 0.93538 |
| 2nd Low | 0.93483 |
| 3rd Low | 0.93410 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low