EUR/USD – 4H – SELLThe combination Euro/US Dollar (EUR/USD) jumps from the ascending trendline down.
A descent downwards to the next support line at 1.13713 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 1.16311 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candlestick chart pattern is existing. The chart shows ‘Northern Doji’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.16311 |
| Current Price | 1.15299 |
| Next Low | 1.13713 |
| 2nd Low | 1.13568 |
| 3rd Low | 1.12099 |
1.16311 – 1.14947 – 1.14542 – 1.13713 – 1.13568 – 1.12099
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji