EUR/USD – 30M – SELL

The pair Euro/US Dollar (EUR/USD) moves from the bearish trendline down.

A continuation of the downward movement down to the next support line at 1.17797 is certain.

Caution: A possible reversal of the trend in the direction of resistance at 1.18284 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.18284 – 1.18241 – 1.18709 – 1.17797 – 1.17756 – 1.18407 —
1.18161 – 1.18158 —
52.461152780959 – 53.161455161839 —
– —
1.18284 – 1770145200

Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing – – – – – – – – –