EUR/USD – 1H – BUYIn addition a ‘Double bottom chart pattern’ chart formation is discovered. The chart forms ‘Double bottom chart pattern’. which is a bullish signal. The currency pair is likely to go up.
The currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
A bullish ascent upwards to the next resistance line at 1.14353 is likely expected.
Caution: A possible counter-trend in the direction of the support level at should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart signal. The pair is likely to go up.
In addition a ‘Bullish Engulfing’ candle pattern is discovered. The candles show ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.14947 |
| 2nd High | 1.14388 |
| Next High | 1.14353 |
| Current Price | 1.14256 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.14353 – 1.14388 – 1.14947 – 1.13726 – 1.13862 – 1.13713
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Engulfing