EUR/USD – 4H – BUYThe combination Euro/US Dollar (EUR/USD) jumps from the bullish trendline up.
A continuation of the uptrend up to the next resistance level at 1.06297 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 1.04721 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ candlestick pattern is discovered. The chart forms ‘Three Outside Up’. 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 success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09968 |
| 2nd High | 1.09367 |
| Next High | 1.06297 |
| Current Price | 1.05289 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up