The pair Euro/British Pound (EUR/GBP) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance line at 0.85460 is expected.
Caution: A possible change in the direction of the support line at 0.85028 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Northern Doji’ candlestick pattern is found. The candles form ‘Northern Doji’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | 0.85649 |
2nd High | 0.85472 |
Next High | 0.85460 |
Current Price | 0.85150 |
Next Low | 0.85028 |
2nd Low | 0.84768 |
3rd Low | 0.84717 |
0.85460 – 0.84839 – 0.84883 – 0.85028 – 0.84768 – 0.84717
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji