EUR/USD – 1H – BUYCorrection of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend will continue. Target of the current trend is 1.08477512 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.08586 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candlestick pattern is existing. The chart forms ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Besides a ‘Double top chart pattern’ chart layout is found. The formation shows ‘Double top chart pattern’. this is a bearish pattern signal. The currency pair is likely to go down.
Besides a ‘Support Level’ indicator signal is detected. The indicator is ‘Support Level’. which is often a bullish chart signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09541 |
| 2nd High | 1.09176 |
| Next High | 1.08586 |
| Current Price | 1.08228 |
| Next Low | 1.08149 |
| 2nd Low | 1.08050 |
| 3rd Low | 1.07653 |
1.08586 – 1.09176 – 1.09541 – 1.08149 – 1.08606 – 1.08929
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji