EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline up.
The bullish trend upwards to the next resistance at 1.03210 is expected.
Caution: A possible trend reversal in the direction of the support zone at 1.02834 could occur.
Consider stop-loss settings accordingly.
Then a ‘Three Outside Up’ candlestick pattern is found. The chart forms ‘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 probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.03572 |
| 2nd High | 1.03240 |
| Next High | 1.03210 |
| Current Price | 1.03114 |
| Next Low | 1.02834 |
| 2nd Low | 1.02729 |
| 3rd Low | 1.02643 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up