EUR/USD – 30M – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 1.1402062 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.14246 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Bullish Belt Hold’ chart pattern is existing. The chart shows ‘Bullish Belt Hold’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
Furthermore a ‘Resistance Level’ indicator signal is detected. The indicator shows ‘Resistance Level’. which is often a bullish signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.15469 |
| 2nd High | 1.14395 |
| Next High | 1.14246 |
| Current Price | 1.13895 |
| Next Low | 1.13698 |
| 2nd Low | 1.13291 |
| 3rd Low | 1.13153 |
1.14246 – 1.13805 – 1.13883 – 1.13698 – 1.13737 – 1.13291
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Belt Hold