EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) moves from the descending trendline up.
An ascent up to the next resistance level at 1.05370 is expected.
Caution: A possible trend reversal in the direction of the support level at 1.04867 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.05120228 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance line at 1.05370 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bearish SBS White Lines’ candle chart pattern is detected. The candles show ‘Bearish SBS White Lines’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05677 |
| 2nd High | 1.05390 |
| Next High | 1.05370 |
| Current Price | 1.04911 |
| Next Low | 1.04867 |
| 2nd Low | 1.04721 |
| 3rd Low | 1.04604 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish SBS White Lines