EUR/USD – 4H – BUYThe combination Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
An ascending movement upwards to the next resistance level at 1.15777 is expected.
Caution: A possible change in the direction of the support level at 1.14994 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ candle chart pattern is discovered. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.16855 |
| 2nd High | 1.16448 |
| Next High | 1.15777 |
| Current Price | 1.15727 |
| Next Low | 1.14994 |
| 2nd Low | 1.14428 |
| 3rd Low | 1.14427 |
1.15777 – 1.16448 – 1.16855 – 1.14994 – 1.15942 – 1.16064 —
1.15573 – 1.15861 —
41.596592659835 – 53.468588973713 —
– —
1.15777 – 1781020800
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji – – – – – – – – –