EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) moves from the ascending trendline up.
A continuation of the bullish trend up to the next resistance level at 1.04471 will persist.
Caution: A possible counter-trend in the direction of the support level at 1.03883 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Up’ candlestick chart pattern is existing. The candles form ‘Three Outside Up’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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 | 1.04471 |
| Current Price | 1.04045 |
| Next Low | 1.03883 |
| 2nd Low | 1.03839 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up