EUR/USD – 4H – BUY

The combination Euro/US Dollar (EUR/USD) breaks through the bearish trendline up.

A bullish ascent upwards to the next resistance level at 1.1698 is expected.

Caution: A possible counter-trend in the direction of the support zone at 1.15766 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is found. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. which is often a bullish signal. The currency pair could go up.

Besides a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which is often a bullish chart signal. The pair is likely to go up.

Correction of the major bearish trend broke the Fibonacci 0.5-Level.Continuation of the current ascending trend is expected. Current target is 1.17582446 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.1698 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Northern Doji’ candle pattern is detected. The chart shows ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. 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).

1.1698 – 1.18077 – 1.18037 – 1.15766 – 1.16178 – 1.16586 —
1.16375 – 1.16721 —
46.502096469605 – 62.772023111429 —
1.15766 – 1768780800 —
1.16980 – 1768219200

Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji – – – – – – – – –