EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support level at 1.04806 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 1.05349 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 1.04870172 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of support at 1.05349 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Matching Low’ candle pattern is existing. The chart shows ‘Matching Low’. which is a bullish chart scenario. The 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 | 1.05842 |
| 2nd High | 1.05382 |
| Next High | 1.05349 |
| Current Price | 1.05134 |
| Next Low | 1.04806 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low