EUR/USD – 30M – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support at 1.03839 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.04084 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The currency 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 | 1.04452 |
| 2nd High | 1.04175 |
| Next High | 1.04084 |
| Current Price | 1.03906 |
| Next Low | 1.03839 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing