EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) goes from the bearish trendline down.
A continuation of the downward movement down to the next support at 1.13241 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 1.14388 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.15279 |
| 2nd High | 1.14802 |
| Next High | 1.14388 |
| Current Price | 1.13736 |
| Next Low | 1.13241 |
| 2nd Low | 1.13122 |
| 3rd Low | 1.12099 |
1.14388 – 1.14802 – 1.15279 – 1.13241 – 1.13755 – 1.14174 —
1.13600 – 1.13833 —
48.781247841043 – 57.727385866157 —
– —
1.14388 – 1782208800
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing – – – – – – – – –