EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 1.15069 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.15659 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Tweezers Top’ candlestick pattern is discovered. The chart forms ‘Tweezers Top’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.1667 |
| 2nd High | 1.1645 |
| Next High | 1.15659 |
| Current Price | 1.15160 |
| Next Low | 1.15069 |
| 2nd Low | 1.14908 |
| 3rd Low | 1.14682 |
1.15659 – 1.1645 – 1.1667 – 1.16025 – 1.15069 – 1.15584 —
1.15322 – 1.15229 —
32.178013208906 – 38.236351693951 —
– —
1.15659 – 1773324000
Trading Signals: FOREX – EUR – EUR/USD – USD – Tweezers Top – – – – – – – – –