EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the bullish trendline downwards
A bearish descent downwards to the next support level at 1.17074 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.17536 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.17536 |
| Current Price | 1.18033 |
| Next Low | 1.17074 |
| 2nd Low | 1.16875 |
| 3rd Low | 1.16805 |
1.17536 – 1.17450 – 1.16413 – 1.17074 – 1.16875 – 1.16805
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji – Double bottom retreat down