EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 1.16546 will continue.
Caution: A possible change in the direction of resistance at 1.17849 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Shooting Star’ chart pattern is detected. The candles show ‘Shooting Star’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.18487 |
| 2nd High | 1.17906 |
| Next High | 1.17849 |
| Current Price | 1.16888 |
| Next Low | 1.16546 |
| 2nd Low | 1.16429 |
| 3rd Low | 1.15237 |
1.17849 – 1.17412 – 1.17201 – 1.17149 – 1.17184 – 1.16546 —
1.16911 – 1.16925 —
38.617192321319 – 44.744869928541 —
– —
1.17849 – 1777654800
Trading Signals: FOREX – EUR – EUR/USD – USD – Shooting Star – – – – – – – – –