EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
A bullish trend up to the next resistance at 1.05305 will persist.
Caution: A possible reversal of the trend in the direction of the support line at 1.04803 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three Outside Up’ candle pattern is detected. The candles form ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘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 | 1.04649 |
| Next Low | 1.04803 |
| 2nd Low | 1.04721 |
| 3rd Low | 1.04604 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up