EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 1.03883 is likely expected.
Caution: A possible change in the direction of resistance at 1.04095 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Matching Low’ chart pattern is detected. The candles show ‘Matching Low’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading 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