EUR/GBP – 30M – BUYThe pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
An ascent upwards to the next resistance level at 0.85102 is certain.
Caution: A possible counter-trend in the direction of the support level at 0.84795 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Northern Doji’ candlestick pattern is existing. The chart shows ‘Northern Doji’. which is a bullish pattern signal. The currency pair is likely to rise. 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).
In addition a ‘Resistance Level’ indicator signal is found. The indicator shows ‘Resistance Level’. which could be a positive signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85445 |
| 2nd High | 0.85380 |
| Next High | 0.85102 |
| Current Price | 0.85224 |
| Next Low | 0.84795 |
| 2nd Low | 0.84694 |
| 3rd Low | 0.84483 |
0.85060 – 0.85102 – 0.85380 – 0.84795 – 0.84951 – 0.84950
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji