EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) moves from the bullish trendline down.
A bearish descent down to the next support line at 1.17074 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Matching Low’ candle chart pattern is detected. The candles form ‘Matching Low’. which is a positive signal. The currency 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 | |
| 2nd High | |
| Next High | |
| Current Price | 1.18024 |
| Next Low | 1.17074 |
| 2nd Low | 1.16875 |
| 3rd Low | 1.16805 |
1.17536 – 1.17450 – 1.16413 – 1.17074 – 1.16875 – 1.16805
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low –