EUR/GBP – 30M – BUYThe currency pair Euro/British Pound (EUR/GBP) breaks through the descending trendline up.
A bullish movement up to the next resistance line at 0.84819 is expected.
Caution: A possible trend reversal in the direction of the support level at 0.84319 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Northern Doji’ candlestick pattern is discovered. The candles show ‘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 likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 0.85218 |
| 2nd High | 0.84919 |
| Next High | 0.84819 |
| Current Price | 0.84314 |
| Next Low | 0.84319 |
| 2nd Low | 0.84129 |
| 3rd Low | 0.83224 |
0.84819 – 0.84919 – 0.85218 – 0.84319 – 0.84581 – 0.84955
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji