EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
A bullish ascent up to the next resistance level at 1.04299 is certain.
Caution: A possible change in the direction of support at 1.04051 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Latter Bottom’ chart pattern is existing. The candles form ‘Latter Bottom’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Latter Bottom’ heading up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04471 |
| Next High | 1.04299 |
| Current Price | 1.04256 |
| Next Low | 1.04051 |
| 2nd Low | 1.03832 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Latter Bottom