EUR/USD – 30M – BUYThe combination Euro/US Dollar (EUR/USD) goes from the bullish trendline up.
A continuation of the uptrend upwards to the next resistance at 1.05245 is considered certain.
Caution: A possible trend reversal in the direction of the support level at 1.04856 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 1.05076732 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of resistance at 1.05245 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Up’ candle pattern is detected. The chart shows ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05370 |
| 2nd High | 1.05305 |
| Next High | 1.05245 |
| Current Price | 1.05062 |
| Next Low | 1.04856 |
| 2nd Low | 1.04821 |
| 3rd Low | 1.04532 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up