EUR/USD – 1H – BUY

The currency pair Euro/US Dollar (EUR/USD) breaks through the descending trendline upwards

The bullish trend up to the next resistance line at 1.18846 is certain.

Caution: A possible counter-trend in the direction of the support zone at 1.18467 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘RSI Bullish Divergence’ indicator signal is existing. The indicator shows ‘RSI Bullish Divergence’. signal.

Additionally a ‘MACD-Hist Bullish Divergence’ indicator signal is existing. The indicator shows ‘MACD-Hist Bullish Divergence’. signal.

Additionally a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which could be a positive chart signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Current target is 1.18804 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.18846 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Additionally a ‘Bearish SBS White Lines’ candlestick chart pattern is discovered. The candles form ‘Bearish SBS White Lines’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).

1.18846 – 1.18895 – 1.19269 – 1.18467 – 1.18558 – 1.18519 —
1.18661 – 1.18626 —
48.866327099867 – 39.72200678269 —
– —
1.18846 – 1770994800

Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish SBS White Lines – Double top chart pattern – – – – – – – –