EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) jumps from the ascending trendline downwards
The bearish trend downwards to the next support level at 1.13153 will persist.
Caution: A possible change in the direction of the resistance line at 1.13681 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Matching Low’ candlestick pattern is detected. The candles form ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
Then a ‘Head and Shoulder chart pattern’ chart formation is existing. The chart shows ‘Head and Shoulder chart pattern’. which is a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.14395 |
| 2nd High | 1.13975 |
| Next High | 1.13681 |
| Current Price | 1.13679 |
| Next Low | 1.13153 |
| 2nd Low | 1.13101 |
| 3rd Low | 1.13077 |
1.13681 – 1.13975 – 1.13943 – 1.13153 – 1.13472 – 1.13101
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low