EUR/USD – 4H – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance at 1.17796 is certain.
Caution: A possible change in the direction of the support line at could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive chart scenario. The currency pair is likely to rise.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.17690312 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of the resistance level at 1.17796 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candle pattern is existing. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. 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 | |
| 2nd High | 1.18294 |
| Next High | 1.17796 |
| Current Price | 1.17276 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.17796 – 1.17422 – 1.17155 – 1.16077 – 1.15736 – 1.15827 — 53.052908784616 – 56.852762777122 — 15.36707261976 – 43.842010233967 – 6.814204587338 – 20.582284474951
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji – – –