EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support line at 1.03883 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 1.04095 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candlestick pattern is found. The chart shows ‘Matching Low’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading 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