EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
A bullish movement up to the next resistance at 1.04222 is likely expected.
Caution: A possible reversal of the trend in the direction of the support zone at 1.03430 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Outside Up’ candlestick chart pattern is detected. The chart shows ‘Three Outside Up’. which is a bullish chart scenario. 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 | 1.05155 |
| 2nd High | 1.05124 |
| Next High | 1.04222 |
| Current Price | 1.04402 |
| Next Low | 1.03430 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up