EUR/USD – 4H – BUYCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 1.03328 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support line at 1.06297 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candlestick chart pattern is discovered. The candles show ‘Matching Low’. which is a bullish pattern signal. The pair is likely to go up. 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 | 1.09968 |
| 2nd High | 1.09367 |
| Next High | 1.06297 |
| Current Price | 1.04633 |
| Next Low | 1.04604 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low