EUR/USD – 4H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 1.16210764 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.16556 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bullish Engulfing’ candle chart pattern is found. The candles show ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.17281 |
| 2nd High | 1.16683 |
| Next High | 1.16556 |
| Current Price | 1.15860 |
| Next Low | 1.14682 |
| 2nd Low | 1.14532 |
| 3rd Low | 1.14459 |
1.16556 – 1.16053 – 1.15907 – 1.14682 – 1.15764 – 1.15423 —
1.15939 – 1.15902 —
46.9423786672 – 48.190999284352 —
– —
1.16556 – 1763049600
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Engulfing – – – – –