EUR/USD – 1H – SELL

The combination Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards

A continuation of the bearish trend down to the next support at 1.16687 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.17161 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.16687 at the Fibonacci level 1-Level. Caution: A possible counter-trend in the direction of the support level at 1.17161 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

And also a ‘Matching Low’ candlestick chart pattern is existing. The candles show ‘Matching Low’. which is a positive 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).

1.17161 – 1.17622 – 1.17906 – 1.16687 – 1.17188 – 1.17289 —
1.16828 – 1.17171 —
40.449636044928 – 59.49696936046 —
– —
1.17161 – 1776963600

Trading Signals: FOREX – EUR – EUR/USD – USD – Matching Low – – – – – – – – –