EUR/USD – 1H – BUYThe combination Euro/US Dollar (EUR/USD) breaks through the bearish trendline upwards
A bullish trend up to the next resistance level at 1.18076 is certain.
Caution: A possible trend reversal in the direction of the support zone at 1.17656 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ candlestick chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.18481 |
| 2nd High | 1.18343 |
| Next High | 1.18076 |
| Current Price | 1.18069 |
| Next Low | 1.17656 |
| 2nd Low | 1.1743 |
| 3rd Low | 1.17416 |
1.18076 – 1.18343 – 1.18071 – 1.17656 – 1.17676 – 1.17741 —
1.17995 – 1.18021 —
52.41322320036 – 58.284856416116 —
– —
1.18076 – 1772010000
Trading Signals: FOREX – EUR – EUR/USD – USD – Three White Soldiers – Double bottom retreat down – – – – – – – –