EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance level at 1.04049 will continue.
Caution: A possible trend reversal in the direction of support at 1.03904 could happen.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Outside Up’ chart pattern is existing. The chart shows ‘Three Outside Up’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04175 |
| 2nd High | 1.04095 |
| Next High | 1.04049 |
| Current Price | 1.04217 |
| Next Low | 1.03904 |
| 2nd Low | 1.03832 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up