EUR/GBP – 4H – BUYThe combination Euro/British Pound (EUR/GBP) moves from the ascending trendline up.
A continuation of the bullish trend up to the next resistance at 0.85460 is certain.
Caution: A possible trend reversal in the direction of the support level at 0.84138 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candlestick chart pattern is detected. The candles show ‘Northern Doji’. this 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 ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.87377 |
| 2nd High | 0.86235 |
| Next High | 0.85460 |
| Current Price | 0.85125 |
| Next Low | 0.84138 |
| 2nd Low | 0.84066 |
| 3rd Low | 0.83552 |
0.85460 – 0.84473 – 0.84497 – 0.84138 – 0.84066 – 0.83552
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji