EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the ascending trendline upwards
A continuation of the bullish trend up to the next resistance line at 1.14947 is certain.
Caution: A possible trend reversal in the direction of the support level at 1.13726 could occur.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0.79-Level.Continuation of the current ascending trend is certain. Current target is 1.14947 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of resistance at 1.14947 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ chart pattern is detected. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.15730 |
| 2nd High | 1.15469 |
| Next High | 1.14947 |
| Current Price | 1.14814 |
| Next Low | 1.13726 |
| 2nd Low | 1.13713 |
| 3rd Low | 1.13568 |
1.14473 – 1.14353 – 1.14388 – 1.13726 – 1.13862 – 1.13713
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji