EUR/USD – 30M – BUYThe combination Euro/US Dollar (EUR/USD) breaks through the ascending trendline up.
A continuation of the upward movement upwards to the next resistance level at will continue.
Caution: A possible trend reversal in the direction of the support level at 1.09129 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Northern Doji’ chart pattern is found. The candles form ‘Northern Doji’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.12369 |
| Next Low | 1.09129 |
| 2nd Low | 1.08882 |
| 3rd Low | 1.08801 |
1.10947 – 1.10894 – 1.09915 – 1.09129 – 1.09975 – 1.08882
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji