EUR/CHF – 30M – SELLMoreover a ‘Double bottom chart pattern’ chart formation is detected. The chart shows ‘Double bottom chart pattern’. which is a bullish chart scenario. The currency pair is likely to go up.
The currency pair Euro/Swiss Franc (EUR/CHF) moves from the ascending trendline downwards
A bearish movement downwards to the next support level at 0.93875 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.94035 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Moreover a ‘Matching Low’ candle chart pattern is discovered. The candles show ‘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 chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.94369 |
| 2nd High | 0.94207 |
| Next High | 0.94035 |
| Current Price | 0.94018 |
| Next Low | 0.93875 |
| 2nd Low | 0.93629 |
| 3rd Low | 0.93603 |
0.94035 – 0.93880 – 0.93762 – 0.93875 – 0.93629 – 0.93603
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low