EUR/USD – 4H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the bullish trendline upwards
A continuation of the bullish trend up to the next resistance line at 1.14947 will continue.
Caution: A possible reversal of the trend in the direction of the support line at 1.13713 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candle pattern is detected. The candles form ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.15730 |
| Next High | 1.14947 |
| Current Price | 1.15921 |
| Next Low | 1.13713 |
| 2nd Low | 1.13568 |
| 3rd Low | 1.12099 |
1.14947 – 1.14542 – 1.14185 – 1.13713 – 1.13568 – 1.12099
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji