EUR/USD – 4H – SELLThe combination Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.04532 is expected.
Caution: A possible change in the direction of the resistance line at 1.06297 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Outside Down’ chart pattern is discovered. The candles show ‘Three Outside Down’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09968 |
| 2nd High | 1.09367 |
| Next High | 1.06297 |
| Current Price | 1.04888 |
| Next Low | 1.04532 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Down