EUR/GBP – 4H – BUYNext a ‘Double bottom chart pattern’ chart layout is detected. The chart picture shows ‘Double bottom chart pattern’. this is a bullish signal. The pair is likely to go up.
The pair Euro/British Pound (EUR/GBP) breaks through the bullish trendline upwards
A continuation of the uptrend up to the next resistance at 0.86864 is likely expected.
Caution: A possible change in the direction of support at 0.86321 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive chart scenario. The currency pair is likely to rise.
Next a ‘Support Level’ indicator signal is discovered. The indicator shows ‘Support Level’. which is often a bullish chart signal. The pair is likely to go up.
Next a ‘Northern Doji’ candle pattern is discovered. 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 | |
| 2nd High | 0.87377 |
| Next High | 0.86864 |
| Current Price | 0.86870 |
| Next Low | 0.86321 |
| 2nd Low | 0.86093 |
| 3rd Low | 0.86081 |
0.86864 – 0.86716 – 0.86668 – 0.86321 – 0.86591 – 0.86093 — 73.000191847923 – 73.267193835458 — 95.339925834363 – 95.339925834363 – 85.52124375953 – 92.122266381617
Trading Signals: FOREX – EUR – EUR/GBP – GBP – Northern Doji – Double bottom chart pattern – –