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 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low