EUR/USD – 1H – BUYCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.0777 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 1.08579 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish chart signal. The currency pair could go down.
Also there is a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Also there is a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. this is usually a bearish chart signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09176 |
| 2nd High | 1.08614 |
| Next High | 1.08579 |
| Current Price | 1.07984 |
| Next Low | 1.07770 |
| 2nd Low | 1.07653 |
| 3rd Low | 1.03886 |
1.08579 – 1.08614 – 1.08586 – 1.07770 – 1.07816 – 1.07969
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji