Buy EUR/USD – 1H – BUY

The currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.

An ascending movement up to the next resistance level at 1.05245 is likely expected.

Caution: A possible change in the direction of the support line at 1.04532 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.

Then a ‘Bullish Engulfing’ candlestick chart pattern is detected. The chart shows ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.

Support & Resistance Price Range*
3rd High 1.05390
2nd High 1.05305
Next High 1.05245
Current Price 1.05201
Next Low 1.04532
2nd Low 1.04252
3rd Low 1.03328

Download EUR/USD Signal Image

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