EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance at 1.04175 will persist.
Caution: A possible change in the direction of the support zone at 1.03839 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish SBS White Lines’ chart pattern is detected. The candles form ‘Bearish SBS White Lines’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04471 |
| 2nd High | 1.04452 |
| Next High | 1.04175 |
| Current Price | 1.04010 |
| Next Low | 1.03839 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish SBS White Lines