EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the descending trendline upwards
An ascending movement up to the next resistance level at 1.03188 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 1.02834 should be noted.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Up’ candle chart pattern is detected. The candles show ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.03240 |
| 2nd High | 1.03210 |
| Next High | 1.03188 |
| Current Price | 1.03001 |
| Next Low | 1.02834 |
| 2nd Low | 1.02729 |
| 3rd Low | 1.02643 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up