EUR/USD – 30M – BUYThe combination Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
The bullish trend up to the next resistance line at 1.03752 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.02732 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Two-Candle Shooting Star’ candlestick pattern is detected. The chart forms ‘Two-Candle Shooting Star’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two-Candle Shooting Star’ going down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04580 |
| 2nd High | 1.04241 |
| Next High | 1.03752 |
| Current Price | 1.03049 |
| Next Low | 1.02732 |
| 2nd Low | 1.02643 |
| 3rd Low | 1.02238 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Two-Candle Shooting Star