EUR/USD – 1H – BUY

The combination Euro/US Dollar (EUR/USD) breaks through the bearish trendline up.

An ascent up to the next resistance at 1.17161 will continue.

Caution: A possible counter-trend in the direction of the support line at could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive signal. The pair is likely to go up.

Besides a ‘StochRSI %K line crosses above %D line’ indicator signal is found. The indicator shows ‘StochRSI %K line crosses above %D line’. which could be a positive 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 will continue. Current target is 1.17587 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the resistance zone at 1.17161 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Three Outside Up’ candle chart pattern is found. The candles form ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

1.17161 – 1.17622 – 1.17906 – 1.16687 – 1.17188 – 1.17289 —
1.17194 – 1.17093 —
64.514474428068 – 50.758473757903 —
– —
1.17161 – 1776963600

Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Up – – – – – – – – –