EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) goes from the bullish trendline down.
A descending movement downwards to the next support at 1.04744 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.05222 could occur.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05305 |
| 2nd High | 1.05245 |
| Next High | 1.05222 |
| Current Price | 1.05172 |
| Next Low | 1.04744 |
| 2nd Low | 1.04532 |
| 3rd Low | 1.04252 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing