The pair Euro/US Dollar (EUR/USD) goes from the descending trendline down.
A continuation of the downward movement down to the next support line at 1.14057 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.14518 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a negative chart signal. The pair is likely to go down.
In addition a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The currency 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.1482 |
| 2nd High | 1.14759 |
| Next High | 1.14518 |
| Current Price | 1.14286 |
| Next Low | 1.14057 |
| 2nd Low | 1.13837 |
| 3rd Low | 1.1377 |
1.14518 – 1.14478 – 1.14759 – 1.14341 – 1.14308 – 1.14597 —
1.14475 – 1.14357 —
46.132488542874 – 37.555099480699 —
– —
1.14518 – 1784280600
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing – – – – – – – – –