EUR/CHF – 30M – BUYThe combination Euro/Swiss Franc (EUR/CHF) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 0.92584 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 0.93018 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Matching Low’ candle pattern is detected. The candles form ‘Matching Low’. which is a bullish signal. The 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 | 0.93222 |
| 2nd High | 0.93027 |
| Next High | 0.93018 |
| Current Price | 0.92761 |
| Next Low | 0.92584 |
| 2nd Low | 0.92045 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/CHF – CHF – Matching Low