EUR/USD – 4H – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.042675 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of resistance at 1.04580 could happen.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Outside Up’ candlestick chart pattern is found. The candles form ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04580 |
| Current Price | 1.04112 |
| Next Low | 1.02238 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up