EUR/USD – 1H – BUYThe pair Euro/US Dollar (EUR/USD) breaks through the descending trendline upwards
The bullish trend upwards to the next resistance level at 1.1647 will continue.
Caution: A possible change in the direction of the support zone at 1.15584 could happen.
Consider stop-loss settings accordingly.
Also there is a ‘Advance Block’ chart pattern is existing. The chart forms ‘Advance Block’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Advance Block’ heading down is 64% (Bull Market) & 61% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.18264 |
| 2nd High | 1.16543 |
| Next High | 1.1647 |
| Current Price | 1.16160 |
| Next Low | 1.15584 |
| 2nd Low | 1.15298 |
| 3rd Low | 1.15112 |
1.1647 – 1.16543 – 1.18264 – 1.15584 – 1.15298 – 1.16713 —
1.15915 – 1.16140 —
40.540951956114 – 52.160270607857 —
– —
1.1647 – 1772679600
Trading Signals: FOREX – EUR – EUR/USD – USD – Advance Block – – – – – – – – –