EUR/USD – 4H – BUY

Furthermore a ‘Falling Wedge Chart Pattern’ chart formation is detected. The chart picture forms ‘Falling Wedge Chart Pattern’. this is a bullish chart scenario. The currency pair is likely to go up.

The pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.

An ascending movement upwards to the next resistance level at 1.14947 is likely expected.

Caution: A possible counter-trend in the direction of the support line at 1.13713 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bullish chart signal. The currency pair is likely to rise.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 1.14947 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.14947 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Northern Doji’ candle chart pattern is discovered. The candles form ‘Northern Doji’. which is a bullish pattern 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).

1.14947 – 1.14542 – 1.14185 – 1.13713 – 1.13568 – 1.12099

Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji