EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline upwards
A bullish ascent up to the next resistance level at 1.04175 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 1.03839 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bullish Engulfing’ candlestick pattern is detected. The candles form ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04471 |
| 2nd High | 1.04452 |
| Next High | 1.04175 |
| Current Price | 1.04067 |
| Next Low | 1.03839 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Engulfing