EUR/USD – 1H – SELL

The currency pair Euro/US Dollar (EUR/USD) goes from the descending trendline down.

A continuation of the bearish trend down to the next support at 1.1571 is considered certain.

Caution: A possible trend reversal in the direction of the resistance level at 1.16073 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.15407 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 1.16073 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Black Crows’ candle pattern is found. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.

1.16073 – 1.16533 – 1.15974 – 1.1571 – 1.15816 – 1.15626 —
1.15912 – 1.15905 —
50.844461045708 – 43.031627499337 —
– —
1.16073 – 1763485200

Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows – – – – –