EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the bullish trendline up.
A continuation of the uptrend upwards to the next resistance line at 1.17740 will continue.
Caution: A possible change in the direction of the support line at 1.17159 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Engulfing’ candle pattern is existing. The candles show ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.17796 |
| Next High | 1.17740 |
| Current Price | 1.17672 |
| Next Low | 1.17159 |
| 2nd Low | 1.1701 |
| 3rd Low | 1.16595 |
1.17740 – 1.17413 – 1.17473 – 1.17159 – 1.1701 – 1.16595 — 57.780865979045 – 60.849954153872 — 2.3988842398884 – 7.9860878420076 – 6.6769426586717 – 5.8453484630664
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Engulfing – – –