EUR/USD – 30M – SELLThe combination Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 1.02909 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.03188 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Outside Down’ candle pattern is existing. The chart forms ‘Three Outside Down’. 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 probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.03240 |
| 2nd High | 1.03210 |
| Next High | 1.03188 |
| Current Price | 1.02994 |
| Next Low | 1.02909 |
| 2nd Low | 1.02834 |
| 3rd Low | 1.02729 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Down