There is also a ‘Double bottom chart pattern’ chart formation is discovered. The chart forms ‘Double bottom chart pattern’. which is a bullish signal. The currency pair is likely to go up.
The pair Euro/US Dollar (EUR/USD) goes from the ascending trendline downwards
A descent downwards to the next support level at 1.14057 is certain.
Caution: A possible change in the direction of the resistance zone at 1.14473 should always be considered.
Consider stop-loss settings accordingly.
There is also a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. which is often a bearish chart scenario. The pair is likely to go down.
There is also a ‘Tweezers Top’ candle pattern is found. The candles form ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.14947 |
| 2nd High | 1.14569 |
| Next High | 1.14473 |
| Current Price | 1.14294 |
| Next Low | 1.14057 |
| 2nd Low | 1.13726 |
| 3rd Low | 1.13713 |
1.14393 – 1.14473 – 1.14353 – 1.14057 – 1.14153 – 1.13726
Trading Signals: FOREX – EUR – EUR/USD – USD – Tweezers Top