EUR/USD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Current target is 1.029845 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance line at 1.03041 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Outside Up’ chart pattern is found. The candles form ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.03210 |
| 2nd High | 1.03188 |
| Next High | 1.03041 |
| Current Price | 1.02969 |
| Next Low | 1.02909 |
| 2nd Low | 1.02834 |
| 3rd Low | 1.02729 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up