EUR/USD – 30M – BUYThe pair Euro/US Dollar (EUR/USD) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 1.08050 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.08614 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ candlestick pattern is existing. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
In addition a ‘Double top chart pattern’ chart formation is found. The formation shows ‘Double top chart pattern’. this is a bearish pattern signal. The currency pair is likely to go down.
In addition a ‘Support Level’ indicator signal is detected. The indicator shows ‘Support Level’. which could be a negative chart signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09515 |
| 2nd High | 1.09176 |
| Next High | 1.08614 |
| Current Price | 1.08117 |
| Next Low | 1.08050 |
| 2nd Low | 1.07653 |
| 3rd Low | 1.06017 |
1.08614 – 1.08586 – 1.09176 – 1.08197 – 1.08149 – 1.08606
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji