EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) goes from the descending trendline down.
A continuation of the downtrend down to the next support level at 1.03713 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.04144 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Last Engulfing Bottom:’ chart pattern is detected. The chart forms ‘Last Engulfing Bottom:’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04580 |
| Next High | 1.04144 |
| Current Price | 1.04070 |
| Next Low | 1.03713 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Last Engulfing Bottom: