EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support level at 1.04794 will continue.
Caution: A possible change in the direction of the resistance level at 1.05155 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05390 |
| 2nd High | 1.05340 |
| Next High | 1.05155 |
| Current Price | 1.04969 |
| Next Low | 1.04794 |
| 2nd Low | 1.04744 |
| 3rd Low | 1.04532 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing