EUR/USD – 1H – BUYThe currency pair Euro/US Dollar (EUR/USD) goes from the descending trendline up.
A bullish movement upwards to the next resistance line at 1.17849 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.16546 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Up’ chart pattern is found. The candles show ‘Three Outside Up’. which is a positive 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’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.18487 |
| 2nd High | 1.17906 |
| Next High | 1.17849 |
| Current Price | 1.17146 |
| Next Low | 1.16546 |
| 2nd Low | 1.16429 |
| 3rd Low | 1.15237 |
1.17849 – 1.17412 – 1.17201 – 1.17149 – 1.17184 – 1.16546 —
1.17379 – 1.17082 —
48.776563055706 – 31.698502102747 —
– —
1.17849 – 1777654800
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up – – – – – – – – –