EUR/USD – 4H – BUYThe combination Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
The bullish trend upwards to the next resistance line at 1.04580 is certain.
Caution: A possible reversal of the trend in the direction of the support zone at 1.03832 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three White Soldiers’ candle pattern is existing. The candles show ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04580 |
| Current Price | 1.02956 |
| Next Low | 1.03832 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three White Soldiers