EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) jumps from the bearish trendline down.
A continuation of the downward movement down to the next support level at 1.03883 will persist.
Caution: A possible counter-trend in the direction of the resistance line at 1.04095 is within the realm of possibility.
Consider stop-loss settings accordingly.
Then a ‘Matching Low’ candle pattern is found. The candles form ‘Matching Low’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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