EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) jumps from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 1.16595 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.17457 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Northern Doji’ candle chart pattern is found. The candles form ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.17871 |
| 2nd High | 1.17796 |
| Next High | 1.17457 |
| Current Price | 1.17247 |
| Next Low | 1.16595 |
| 2nd Low | 1.16297 |
| 3rd Low | 1.16077 |
1.17457 – 1.17303 – 1.17796 – 1.16595 – 1.1682 – 1.16297 — 54.112009260948 – 52.751678791099 — 25.309791723607 – 1.8127081732001 – 49.426281053393 – 24.797113113528
Trading Signals: FOREX – EUR – EUR/USD – USD – Northern Doji – – –