EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 1.05382 is certain.
Caution: A possible reversal of the trend in the direction of the support level at 1.04806 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Inside Up’ candlestick pattern is found. The chart forms ‘Three Inside Up’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Inside Up’ heading up is 65% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05969 |
| 2nd High | 1.05842 |
| Next High | 1.05382 |
| Current Price | 1.05279 |
| Next Low | 1.04806 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Inside Up