EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the ascending trendline downwards
A bearish movement down to the next support at 1.04532 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 1.05155 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ chart pattern is detected. The chart forms ‘Bearish Engulfing’. 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 ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05390 |
| 2nd High | 1.05340 |
| Next High | 1.05155 |
| Current Price | 1.04738 |
| Next Low | 1.04532 |
| 2nd Low | 1.04252 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing