EUR/USD – 30M – BUYThe combination Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 1.12967 will continue.
Caution: A possible change in the direction of the resistance zone at 1.13645 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.12739 at the Fibonacci level 1-Level. Caution: A possible change in the direction of support at 1.13645 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Matching Low’ candle chart pattern is existing. The chart forms ‘Matching Low’. which is a bullish chart scenario. The 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).
In addition a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which could be a negative chart scenario. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.13883 |
| 2nd High | 1.13805 |
| Next High | 1.13645 |
| Current Price | 1.12858 |
| Next Low | 1.12967 |
| 2nd Low | 1.12920 |
| 3rd Low | 1.12739 |
1.13645 – 1.13471 – 1.13805 – 1.12967 – 1.13110 – 1.12920
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low