EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
An ascending movement up to the next resistance line at 1.02496 will continue.
Caution: A possible reversal of the trend in the direction of support at 1.02130 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish SBS White Lines’ candle pattern is detected. The chart forms ‘Bearish SBS White Lines’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.03188 |
| 2nd High | 1.03115 |
| Next High | 1.02496 |
| Current Price | 1.01997 |
| Next Low | 1.02130 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish SBS White Lines