EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) moves from the ascending trendline down.
A bearish movement down to the next support level at 1.04721 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.05349 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candlestick chart pattern is detected. The chart forms ‘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’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05842 |
| 2nd High | 1.05382 |
| Next High | 1.05349 |
| Current Price | 1.05152 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low