EUR/USD – 30M – BUYThe currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline up.
A bullish trend up to the next resistance level at 1.18078 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 1.17825 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bullish Engulfing’ candlestick pattern is existing. The candles show ‘Bullish Engulfing’. which is a positive pattern signal. The 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 | 1.18709 |
| 2nd High | 1.18377 |
| Next High | 1.18078 |
| Current Price | 1.18019 |
| Next Low | 1.17825 |
| 2nd Low | 1.17797 |
| 3rd Low | 1.17756 |
1.18078 – 1.18377 – 1.18284 – 1.17825 – 1.17901 – 1.17797 —
1.17890 – 1.18028 —
36.632793169512 – 52.954934184039 —
– —
1.18078 – 1770262200
Trading Signals: FOREX – EUR – EUR/USD – USD – Bullish Engulfing – – – – – – – – –