EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
A bullish movement up to the next resistance at 1.05677 is expected.
Caution: A possible counter-trend in the direction of the support level at 1.04983 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.0564 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.05677 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Three White Soldiers’ candlestick pattern is detected. The candles show ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06297 |
| 2nd High | 1.05940 |
| Next High | 1.05677 |
| Current Price | 1.05342 |
| Next Low | 1.04983 |
| 2nd Low | 1.04721 |
| 3rd Low | 1.04604 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three White Soldiers