EUR/USD – 30M – SELLThe currency pair Euro/US Dollar (EUR/USD) goes from the descending trendline down.
A continuation of the downtrend downwards to the next support at 1.05232 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.06005 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candle pattern is existing. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. 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 | 1.06542 |
| 2nd High | 1.06070 |
| Next High | 1.06005 |
| Current Price | 1.05719 |
| Next Low | 1.05232 |
| 2nd Low | 1.05159 |
| 3rd Low | 1.05118 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing