EUR/USD – 4H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 1.03556 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.04366 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Three Outside Up’ chart pattern is found. The candles show ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05340 |
| 2nd High | 1.04580 |
| Next High | 1.04366 |
| Current Price | 1.03018 |
| Next Low | 1.01772 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up