EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
The bullish trend upwards to the next resistance at 1.05305 is considered certain.
Caution: A possible trend reversal in the direction of the support zone at 1.04803 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Up’ candle chart pattern is discovered. The candles show ‘Three Outside Up’. which is a positive pattern signal. The currency 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 | 1.05677 |
| 2nd High | 1.05390 |
| Next High | 1.05305 |
| Current Price | 1.04732 |
| Next Low | 1.04803 |
| 2nd Low | 1.04721 |
| 3rd Low | 1.04604 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up