EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
An ascending movement up to the next resistance at 1.05437 is considered certain.
Caution: A possible reversal of the trend in the direction of support at 1.04721 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Inverted Hammer’ candle pattern is discovered. The chart forms ‘Inverted Hammer’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Inverted Hammer’ going up is 65% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05969 |
| 2nd High | 1.05842 |
| Next High | 1.05437 |
| Current Price | 1.05293 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Inverted Hammer