EUR/USD – 1H – BUYThe combination Euro/US Dollar (EUR/USD) goes from the ascending trendline up.
A continuation of the upward movement upwards to the next resistance at 1.04471 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.03839 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish SBS White Lines’ chart pattern is found. The chart shows ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05155 |
| 2nd High | 1.05124 |
| Next High | 1.04471 |
| Current Price | 1.03966 |
| Next Low | 1.03839 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish SBS White Lines