EUR/USD – 30M – BUYBesides a ‘Double top retreat up’ chart layout is existing. The chart shows ‘Double top retreat up’. which is a bullish signal. The currency pair is likely to go up.
The pair Euro/US Dollar (EUR/USD) goes from the descending trendline upwards
An ascending movement up to the next resistance at 1.18096 is expected.
Caution: A possible trend reversal in the direction of the support zone at 1.17610 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Line Strike – Bullish’ candlestick chart pattern is discovered. The chart forms ‘Three Line Strike – Bullish’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Line Strike – Bullish’ going up is 83% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.18294 |
| Next High | 1.18096 |
| Current Price | 1.17774 |
| Next Low | 1.17610 |
| 2nd Low | 1.17074 |
| 3rd Low | 1.16875 |
1.18096 – 1.18294 – 1.18073 – 1.17610 – 1.17672 – 1.17074
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Line Strike – Bullish – Double top retreat up