EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance at 1.05892 is considered certain.
Caution: A possible change in the direction of the support level at 1.04721 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 1.05892 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at 1.05892 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Up’ candle chart pattern is existing. The chart forms ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06094 |
| 2nd High | 1.05969 |
| Next High | 1.05892 |
| Current Price | 1.05778 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up