EUR/USD – 1H – BUYThe combination Euro/US Dollar (EUR/USD) moves from the ascending trendline up.
A continuation of the uptrend upwards to the next resistance line at 1.14388 is expected.
Caution: A possible counter-trend in the direction of the support zone at 1.13862 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. which could be a positive chart scenario. The pair is likely to go up.
Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Target of the current trend is 1.142575 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance level at 1.14388 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bullish Belt Hold’ candle pattern is found. The candles show ‘Bullish Belt Hold’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.15469 |
| 2nd High | 1.14947 |
| Next High | 1.14388 |
| Current Price | 1.14077 |
| Next Low | 1.13862 |
| 2nd Low | 1.13713 |
| 3rd Low | 1.13568 |
1.14388 – 1.14947 – 1.14345 – 1.13862 – 1.13713 – 1.14042
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Belt Hold