EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) goes from the descending trendline down.
A continuation of the bearish trend down to the next support at 1.16423 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 1.16604 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Dark Cloud Cover’ candlestick pattern is discovered. The chart forms ‘Dark Cloud Cover’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Dark Cloud Cover’ going down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.17425 |
| 2nd High | 1.17024 |
| Next High | 1.16604 |
| Current Price | 1.16302 |
| Next Low | 1.16423 |
| 2nd Low | 1.16147 |
| 3rd Low | 1.15908 |
1.16604 – 1.17024 – 1.17425 – 1.16423 – 1.16721 – 1.16725 —
1.16604 – 1.16374 —
39.321298863803 – 36.096127782342 —
1.16604 – 1767970800 —
– 1767970800
Trading Signals: FOREX – EUR – EUR/USD – USD – Dark Cloud Cover – – – – – – – – –