EUR/USD – 1H – BUYThe combination Euro/US Dollar (EUR/USD) breaks through the ascending trendline upwards
A continuation of the bullish trend up to the next resistance level at 1.04438 will persist.
Caution: A possible counter-trend in the direction of support at 1.04051 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Three White Soldiers’ candle pattern is detected. The chart forms ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04471 |
| Next High | 1.04438 |
| Current Price | 1.04474 |
| Next Low | 1.04051 |
| 2nd Low | 1.03832 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three White Soldiers