EUR/USD – 1H – BUYNext a ‘Falling Wedge Chart Pattern’ chart pattern is discovered. The chart shows ‘Falling Wedge Chart Pattern’. this is a bullish signal. The pair is likely to go up.
The currency pair Euro/US Dollar (EUR/USD) breaks through the bearish trendline up.
A bullish ascent up to the next resistance level at 1.14353 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 1.13726 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bullish Engulfing’ candlestick pattern is found. The chart shows ‘Bullish Engulfing’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.14947 |
| 2nd High | 1.14388 |
| Next High | 1.14353 |
| Current Price | 1.14267 |
| Next Low | 1.13726 |
| 2nd Low | 1.13713 |
| 3rd Low | 1.13568 |
1.14353 – 1.14388 – 1.14947 – 1.13726 – 1.13862 – 1.13713
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Engulfing