EUR/CHF – 1H – BUYThe currency pair Euro/Swiss Franc (EUR/CHF) moves from the bullish trendline down.
A bearish trend down to the next support at 0.93835 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 0.95001 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Matching Low’ candle chart pattern is existing. The candles show ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.96320 |
| 2nd High | 0.95791 |
| Next High | 0.95001 |
| Current Price | 0.94260 |
| Next Low | 0.93835 |
| 2nd Low | 0.93054 |
| 3rd Low | 0.92750 |
0.94102 – 0.93259 – 0.93379 – 0.93835 – 0.93054 – 0.92750
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low