Then a ‘Falling Wedge Chart Pattern’ chart layout is found. The chart shows ‘Falling Wedge Chart Pattern’. which is a positive pattern signal. The currency pair is likely to go up.
The currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance line at 1.15864 is expected.
Caution: A possible reversal of the trend in the direction of support at 1.15234 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Northern Doji’ candle pattern is existing. The chart forms ‘Northern Doji’. which is a bullish 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.16311 |
| 2nd High | 1.16143 |
| Next High | 1.15864 |
| Current Price | 1.15836 |
| Next Low | 1.15234 |
| 2nd Low | 1.14886 |
| 3rd Low | 1.14051 |
1.15864 – 1.15691 – 1.15603 – 1.15234 – 1.14886 – 1.15634
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji