EUR/USD – 1H – BUYThe combination Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support at 1.04803 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 1.05305 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Matching Low’ chart pattern is discovered. The chart forms ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05677 |
| 2nd High | 1.05390 |
| Next High | 1.05305 |
| Current Price | 1.04888 |
| Next Low | 1.04803 |
| 2nd Low | 1.04721 |
| 3rd Low | 1.04604 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low