EUR/USD – 1H – BUY

The pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.

An ascent upwards to the next resistance at 1.1621 is considered certain.

Caution: A possible trend reversal in the direction of the support line at 1.15584 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Three Outside Up’ candle chart pattern is found. The candles form ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).

1.1621 – 1.16209 – 1.1647 – 1.15584 – 1.15298 – 1.16713 —
1.16180 – 1.15284 —
57.419263585052 – 33.569221510412 —
– —
1.1621 – 1772827200

Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up – – – – – – – – –