Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 183.133 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance level at 183.645 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Three Outside Up’ candlestick chart pattern is existing. The candles show ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 183.97 |
| 2nd High | 183.683 |
| Next High | 183.645 |
| Current Price | 182.87900 |
| Next Low | 182.29600 |
| 2nd Low | |
| 3rd Low |
183.645 – 183.61 – 183.683 – 182.29600 – 183.253 – 183.215 —
182.67800 – 182.83800 —
19.150457743617 – 37.505269978324 —
182.29600 – 1773399600 —
183.645 – 1773387000
Trading Signals: FOREX – EUR – EUR/JPY – JPY – Three Outside Up – – – – – – – – –