EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance line at 0.86137 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 0.85567 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86938 |
| 2nd High | 0.86235 |
| Next High | 0.86137 |
| Current Price | 0.85934 |
| Next Low | 0.85567 |
| 2nd Low | 0.85391 |
| 3rd Low | 0.85384 |
0.85875 – 0.85859 – 0.85545 – 0.85567 – 0.85391 – 0.85384
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Double bottom retreat down