EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline up.
A bullish movement upwards to the next resistance at 1.13807 is likely expected.
Caution: A possible change in the direction of support at 1.12795 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.13807 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance level at 1.13807 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Northern Doji’ chart pattern is existing. The chart forms ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
Next a ‘Support Level’ indicator signal is found. The indicator shows ‘Support Level’. this is usually a bullish chart signal. The currency pair is likely to rise.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.14184 |
| 2nd High | 1.13991 |
| Next High | 1.13807 |
| Current Price | 1.13725 |
| Next Low | 1.12795 |
| 2nd Low | 1.12655 |
| 3rd Low | 1.12637 |
1.13807 – 1.13645 – 1.13805 – 1.12795 – 1.12920 – 1.12655
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji