EUR/USD – 4H – BUYThe combination Euro/US Dollar (EUR/USD) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support at is considered certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.14246 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart signal. The pair is likely to go down.
Furthermore a ‘Northern Doji’ candlestick pattern is found. The chart shows ‘Northern Doji’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Furthermore a ‘Double top chart pattern’ chart layout is existing. The formation shows ‘Double top chart pattern’. which is a negative signal. The currency pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.15730 |
| Next High | 1.14246 |
| Current Price | 1.12986 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.14246 – 1.15730 – 1.14125 – 1.13077 – 1.12637 – 1.08801
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji