EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
A bullish ascent up to the next resistance level at 1.04095 will continue.
Caution: A possible change in the direction of the support level at 1.03832 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Outside Up’ candlestick pattern is discovered. The chart shows ‘Three Outside Up’. which is a positive 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’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04471 |
| Next High | 1.04095 |
| Current Price | 1.04217 |
| Next Low | 1.03832 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up