EUR/USD – 4H – BUY

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

A bullish movement up to the next resistance level at 1.16394 is considered certain.

Caution: A possible counter-trend in the direction of the support level at 1.14841 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘MACD crosses above signal’ indicator signal is existing. The indicator shows ‘MACD crosses above signal’. this is usually a bullish chart scenario. The currency pair could go up.

Moreover a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a positive chart signal. The currency pair could go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.161945 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.16394 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart forms ‘Three Outside Up’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

1.16394 – 1.16158 – 1.1667 – 1.14841 – 1.14427 – 1.14104 —
1.15208 – 1.14753 —
40.147529997241 – 33.515340251323 —
– —
1.16394 – 1774281600

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