EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) goes from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at 0.85380 will continue.
Caution: A possible trend reversal in the direction of the support zone at could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish signal. The currency pair is likely to rise.
Also there is a ‘Tweezers Bottom’ chart pattern is detected. The chart forms ‘Tweezers Bottom’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85455 |
| 2nd High | 0.85445 |
| Next High | 0.85380 |
| Current Price | 0.85053 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
0.85380 – 0.85116 – 0.85445 – 0.84951 – 0.84950 – 0.84817
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Tweezers Bottom