EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) moves from the ascending trendline downwards
A descent down to the next support at 1.04721 will continue.
Caution: A possible change in the direction of the resistance zone at 1.05892 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Matching Low’ candlestick pattern is found. The chart forms ‘Matching Low’. this is a bullish signal. The currency pair is likely to rise. 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 | 1.06094 |
| 2nd High | 1.05969 |
| Next High | 1.05892 |
| Current Price | 1.05616 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low