EUR/USD – 30M – SELL

The combination Euro/US Dollar (EUR/USD) goes from the ascending trendline downwards

The bearish trend down to the next support line at 1.17706 will persist.

Caution: A possible counter-trend in the direction of the resistance level at 1.18285 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.179705 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 1.18285 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bearish Engulfing’ candlestick chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

1.18285 – 1.18139 – 1.18076 – 1.17706 – 1.1771 – 1.17656 —
1.18056 – 1.18092 —
39.683299765652 – 52.212658128507 —
– —
1.18285 – 1772076600

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