EUR/CHF – 4H – BUYThe combination Euro/Swiss Franc (EUR/CHF) jumps from the ascending trendline down.
A descent down to the next support at 0.93297 will persist.
Caution: A possible counter-trend in the direction of resistance at 0.94398 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Matching Low’ candlestick chart pattern is detected. The chart shows ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94423 |
| 2nd High | 0.94407 |
| Next High | 0.94398 |
| Current Price | 0.93924 |
| Next Low | 0.93297 |
| 2nd Low | 0.92859 |
| 3rd Low | 0.92555 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low