There is also a ‘Falling Wedge Chart Pattern’ chart pattern is found. The formation shows ‘Falling Wedge Chart Pattern’. which is a bullish chart scenario. The pair is likely to go up.
The combination Euro/US Dollar (EUR/USD) breaks through the descending trendline upwards
An ascending movement up to the next resistance level at 1.14393 will persist.
Caution: A possible trend reversal in the direction of the support level at 1.14051 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘Resistance Level’. this is usually a bullish signal. The pair is likely to go up.
There is also a ‘Northern Doji’ candlestick chart pattern is detected. 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 success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.14569 |
| 2nd High | 1.14473 |
| Next High | 1.14393 |
| Current Price | 1.14335 |
| Next Low | 1.14051 |
| 2nd Low | 1.13726 |
| 3rd Low | 1.13713 |
1.14393 – 1.14473 – 1.14353 – 1.14051 – 1.14057 – 1.14153
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji