EUR/USD – 4H – BUYThe pair Euro/US Dollar (EUR/USD) goes from the bearish trendline up.
An ascending movement upwards to the next resistance at 1.05340 is likely expected.
Caution: A possible change in the direction of the support line at 1.03328 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ chart pattern is detected. The candles show ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09367 |
| 2nd High | 1.06297 |
| Next High | 1.05340 |
| Current Price | 1.04426 |
| Next Low | 1.03328 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three White Soldiers