EUR/USD – 30M – BUYThe combination Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.03883 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.04095 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Matching Low’ chart pattern is detected. The chart forms ‘Matching Low’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04452 |
| 2nd High | 1.04175 |
| Next High | 1.04095 |
| Current Price | 1.03939 |
| Next Low | 1.03883 |
| 2nd Low | 1.03839 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low