EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) goes from the descending trendline downwards
A continuation of the downtrend down to the next support level at 1.03883 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.04095 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Matching Low’ candlestick pattern is discovered. The candles form ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04452 |
| 2nd High | 1.04175 |
| Next High | 1.04095 |
| Current Price | 1.03939 |
| Next Low | 1.03883 |
| 2nd Low | 1.03839 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low