EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 1.12920 is considered certain.
Caution: A possible change in the direction of resistance at 1.13805 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Tweezers Top’ candlestick chart pattern is discovered. The candles form ‘Tweezers Top’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.13991 |
| 2nd High | 1.13883 |
| Next High | 1.13805 |
| Current Price | 1.13330 |
| Next Low | 1.12920 |
| 2nd Low | 1.12739 |
| 3rd Low | 1.12655 |
1.13805 – 1.13406 – 1.13883 – 1.12920 – 1.12739 – 1.12655
Trading Signals: FOREX – EUR – EUR/USD – USD – Tweezers Top