EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
An ascending movement up to the next resistance at 1.05155 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.04853 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ candlestick chart pattern is existing. The chart shows ‘Three Outside Up’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05370 |
| 2nd High | 1.05340 |
| Next High | 1.05155 |
| Current Price | 1.05002 |
| Next Low | 1.04853 |
| 2nd Low | 1.04794 |
| 3rd Low | 1.04744 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up