EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) goes from the bullish trendline downwards
A descent downwards to the next support level at 0.85250 will continue.
Caution: A possible change in the direction of the resistance level at 0.85649 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Northern Doji’ candle pattern is detected. The chart forms ‘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 chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Additionally a ‘Double top chart pattern’ chart pattern is detected. The chart picture shows ‘Double top chart pattern’. which is a negative chart scenario. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.86137 |
| 2nd High | 0.85830 |
| Next High | 0.85649 |
| Current Price | 0.85303 |
| Next Low | 0.85250 |
| 2nd Low | 0.85189 |
| 3rd Low | 0.84694 |
0.85649 – 0.85830 – 0.85718 – 0.85307 – 0.85303 – 0.85431
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji