EUR/USD – 1H – BUYCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.0388076 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the support level at 1.05124 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Matching Low’ candlestick chart pattern is found. The chart shows ‘Matching Low’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05340 |
| 2nd High | 1.05155 |
| Next High | 1.05124 |
| Current Price | 1.04284 |
| Next Low | 1.03430 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low