EUR/USD – 30M – BUYThe combination Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support at 1.03832 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 1.04049 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Matching Low’ candle pattern is found. The chart forms ‘Matching Low’. this is a bullish pattern signal. 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 | 1.04175 |
| 2nd High | 1.04095 |
| Next High | 1.04049 |
| Current Price | 1.03941 |
| Next Low | 1.03832 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low