EUR/USD – 4H – BUYThe pair Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support line at 1.03430 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.04471 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Matching Low’ candlestick chart pattern is discovered. The chart shows ‘Matching Low’. which is a bullish chart scenario. The currency 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 | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04471 |
| Current Price | 1.03951 |
| Next Low | 1.03430 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low