EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
A bullish movement up to the next resistance line at 1.04222 will continue.
Caution: A possible trend reversal in the direction of support at 1.03547 is within the realm of possibility.
Consider stop-loss settings accordingly.
And also a ‘Three Outside Up’ candle chart pattern is existing. The candles form ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. 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 | 1.05155 |
| 2nd High | 1.05124 |
| Next High | 1.04222 |
| Current Price | 1.03776 |
| Next Low | 1.03547 |
| 2nd Low | 1.03439 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up