EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) moves from the descending trendline downwards
A continuation of the downtrend down to the next support level at 1.02909 is expected.
Caution: A possible change in the direction of the resistance line at 1.03188 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is detected. The candles form ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.03240 |
| 2nd High | 1.03210 |
| Next High | 1.03188 |
| Current Price | 1.02969 |
| Next Low | 1.02909 |
| 2nd Low | 1.02834 |
| 3rd Low | 1.02729 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows