EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance level at 1.06005 is expected.
Caution: A possible reversal of the trend in the direction of the support line at 1.05232 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three White Soldiers’ candle pattern is detected. The chart shows ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06542 |
| 2nd High | 1.06070 |
| Next High | 1.06005 |
| Current Price | 1.06068 |
| Next Low | 1.05232 |
| 2nd Low | 1.05159 |
| 3rd Low | 1.05118 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three White Soldiers