EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance at is likely expected.
Caution: A possible reversal of the trend in the direction of support at 1.17074 could occur.
Consider stop-loss settings accordingly.
Next a ‘Northern Doji’ chart pattern is found. The candles show ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to go up. 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 | |
| Next High | |
| Current Price | 1.18039 |
| Next Low | 1.17074 |
| 2nd Low | 1.16875 |
| 3rd Low | 1.16805 |
1.17536 – 1.17450 – 1.16413 – 1.17074 – 1.16875 – 1.16805
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji –