Buy EUR/USD – 1H – BUY

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.04704912 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of support at 1.05340 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Matching Low’ candlestick pattern is found. The candles form ‘Matching Low’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).

Support & Resistance Price Range*
3rd High 1.05677
2nd High 1.05390
Next High 1.05340
Current Price 1.04876
Next Low 1.04744
2nd Low 1.04532
3rd Low 1.04252

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