EUR/USD – 4H – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 1.14427 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.1667 should always be considered.
Consider stop-loss settings accordingly.
Also there is a ‘Matching Low’ chart pattern is existing. The candles form ‘Matching Low’. which is a bullish pattern signal. The 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 | 1.18343 |
| 2nd High | 1.18285 |
| Next High | 1.1667 |
| Current Price | 1.15581 |
| Next Low | 1.14427 |
| 2nd Low | 1.14104 |
| 3rd Low |
1.1667 – 1.18285 – 1.18343 – 1.14427 – 1.14104 – 1.15069 —
1.14764 – 1.15796 —
38.744185966625 – 57.611834872352 —
1.14427 – 1773907200 —
1.1667 – 1773172800
Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low – – – – – – – – –