EUR/USD – 4H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the ascending trendline downwards
A bearish movement down to the next support level at 1.14532 will continue.
Caution: A possible trend reversal in the direction of the resistance level at should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candlestick pattern is existing. The candles form ‘Matching Low’. 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 probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.17244 |
| Next Low | 1.14532 |
| 2nd Low | 1.14459 |
| 3rd Low | 1.13713 |
1.16144 – 1.16311 – 1.14947 – 1.14532 – 1.14459 – 1.13713
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low –