EUR/USD – 4H – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline upwards
An ascending movement upwards to the next resistance level at 1.17422 will continue.
Caution: A possible trend reversal in the direction of the support level at 1.16077 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. this is a bullish signal. The currency pair is likely to go up. 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 | |
| 2nd High | 1.18294 |
| Next High | 1.17422 |
| Current Price | 1.16910 |
| Next Low | 1.16077 |
| 2nd Low | 1.15736 |
| 3rd Low | 1.14532 |
1.17422 – 1.17155 – 1.18294 – 1.16077 – 1.15736 – 1.15827 — 56.91984100791 – 58.867534619586 — 91.005043900616 – 98.851111526247 – 75.199390468461 – 88.649147933661
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji – – –