EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
The bullish trend up to the next resistance level at 1.16613 will continue.
Caution: A possible trend reversal in the direction of the support line at 1.15766 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bullish chart scenario. The currency pair is likely to rise.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 1.16693496 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.16613 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Northern Doji’ candle chart pattern is detected. The candles form ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.1698 |
| 2nd High | 1.16773 |
| Next High | 1.16613 |
| Current Price | 1.16415 |
| Next Low | 1.15766 |
| 2nd Low | 1.15549 |
| 3rd Low | 1.15467 |
1.16613 – 1.16773 – 1.1698 – 1.15766 – 1.15927 – 1.16337 —
1.16411 – 1.16421 —
56.056317604083 – 63.774308726411 —
– —
1.16613 – 1768413600
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji – – – – – – – – –