EUR/CHF – 1H – BUYThe combination Euro/Swiss Franc (EUR/CHF) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support at 0.93826 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 0.94021 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Matching Low’ candle chart pattern is discovered. The chart shows ‘Matching Low’. which is a positive pattern 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’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94398 |
| 2nd High | 0.94193 |
| Next High | 0.94021 |
| Current Price | 0.93901 |
| Next Low | 0.93826 |
| 2nd Low | 0.93716 |
| 3rd Low | 0.93650 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low