EUR/GBP – 30M – BUYThe combination Euro/British Pound (EUR/GBP) breaks through the ascending trendline upwards
A continuation of the uptrend up to the next resistance at 0.87250 is likely expected.
Caution: A possible counter-trend in the direction of the support zone at 0.85189 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candlestick pattern is existing. The candles show ‘Northern Doji’. which 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 0.87250 |
| Current Price | 0.86992 |
| Next Low | 0.85189 |
| 2nd Low | 0.84694 |
| 3rd Low | 0.84483 |
0.87250 – 0.86597 – 0.85588 – 0.85189 – 0.85321 – 0.85912
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji