Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.03439 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.04241 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Southern Doji’ candle chart pattern is discovered. The candles form ‘Southern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Southern Doji’ going up is 51% (Bull Market) & 52% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 1.05124 |
2nd High | 1.04580 |
Next High | 1.04241 |
Current Price | 1.03635 |
Next Low | 1.03439 |
2nd Low | 1.03430 |
3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Southern Doji