EUR/USD – 1H – BUYCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.15069 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.1645 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Two Crows’ candle chart pattern is detected. The candles show ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.18264 |
| 2nd High | 1.1667 |
| Next High | 1.1645 |
| Current Price | 1.15380 |
| Next Low | 1.15069 |
| 2nd Low | 1.14908 |
| 3rd Low | 1.14682 |
1.1645 – 1.1667 – 1.16632 – 1.16025 – 1.15069 – 1.15584 —
1.15740 – 1.15551 —
35.813131451201 – 34.62335604899 —
– —
1.1645 – 1773223200
Trading Signals: FOREX – EUR – EUR/USD – USD – Two Crows – – – – – – – – –