EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 1.18467 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.18731 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Last Engulfing Top’ candle pattern is existing. The candles form ‘Last Engulfing Top’. 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 success rate of a ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.19269 |
| 2nd High | 1.18895 |
| Next High | 1.18731 |
| Current Price | 1.18588 |
| Next Low | 1.18467 |
| 2nd Low | 1.18326 |
| 3rd Low | 1.18095 |
1.18731 – 1.18895 – 1.18875 – 1.18467 – 1.18558 – 1.18519 —
1.18624 – 1.18619 —
47.746468068736 – 47.066617534727 —
– —
1.18731 – 1770951600
Trading Signals: FOREX – EUR – EUR/USD – USD – Last Engulfing Top – – – – – – – – –