EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
A bullish trend up to the next resistance at 1.05437 is considered certain.
Caution: A possible trend reversal in the direction of the support line at 1.04721 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.05437 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of resistance at 1.05437 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The chart shows ‘Bearish SBS White Lines’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05969 |
| 2nd High | 1.05842 |
| Next High | 1.05437 |
| Current Price | 1.05289 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish SBS White Lines