EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
The bullish trend upwards to the next resistance line at 1.16716 is certain.
Caution: A possible trend reversal in the direction of the support line at 1.16276 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Belt Hold’ candle chart pattern is existing. The candles form ‘Bullish Belt Hold’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.17281 |
| 2nd High | 1.16816 |
| Next High | 1.16716 |
| Current Price | 1.16405 |
| Next Low | 1.16276 |
| 2nd Low | 1.15908 |
| 3rd Low | 1.1589 |
1.16716 – 1.16715 – 1.16816 – 1.16276 – 1.16406 – 1.15908 —
1.16545 – 1.16384 —
39.838985047213 – 44.04257261303 —
– —
1.16716 – 1765180800
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Belt Hold – – – – – – – – –