EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
A bullish movement upwards to the next resistance level at 1.1697 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 1.16125 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Support Level’ indicator layout is existing. The indicator is ‘Support Level’. which is often a bullish signal. The currency pair is likely to rise.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is likely expected. Current target is 1.16579 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 1.1697 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.17871 |
| 2nd High | 1.17422 |
| Next High | 1.1697 |
| Current Price | 1.16562 |
| Next Low | 1.16125 |
| 2nd Low | 1.15736 |
| 3rd Low | 1.14532 |
1.1697 – 1.16649 – 1.17422 – 1.16125 – 1.16287 – 1.15736 — 43.211857074244 – 55.223275231898 — 90.731102850062 – 100 – 73.056210825083 – 90.538844776441
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji – – –