EUR/USD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.05549044 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support line at 1.06297 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candle pattern is existing. The candles form ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to rise. 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 | 1.06628 |
| 2nd High | 1.06542 |
| Next High | 1.06297 |
| Current Price | 1.05691 |
| Next Low | 1.05318 |
| 2nd Low | 1.04721 |
| 3rd Low | 1.04604 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low