EUR/USD – 4H – BUYThe currency pair Euro/US Dollar (EUR/USD) jumps from the bearish trendline down.
A continuation of the downtrend down to the next support line at 1.03430 will continue.
Caution: A possible trend reversal in the direction of the resistance zone at 1.04471 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Matching Low’ candlestick chart pattern is existing. The candles show ‘Matching Low’. this is a bullish chart scenario. The currency 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 | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04471 |
| Current Price | 1.03911 |
| Next Low | 1.03430 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low