EUR/CHF – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 0.92971556 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support level at 0.93239 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Matching Low’ candlestick chart pattern is discovered. The chart shows ‘Matching Low’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.93255 |
| 2nd High | 0.93242 |
| Next High | 0.93239 |
| Current Price | 0.93046 |
| Next Low | 0.92887 |
| 2nd Low | 0.92884 |
| 3rd Low | 0.92768 |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low