EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance level at 1.03752 is expected.
Caution: A possible counter-trend in the direction of the support zone at 1.02238 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Bearish SBS White Lines’ candlestick pattern is existing. 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 likelyhood of ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04580 |
| 2nd High | 1.04241 |
| Next High | 1.03752 |
| Current Price | 1.03964 |
| Next Low | 1.02238 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish SBS White Lines