EUR/USD – 30M – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the bullish trendline down.
A descending movement down to the next support level at 1.05232 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 1.06005 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. 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 | 1.06542 |
| 2nd High | 1.06070 |
| Next High | 1.06005 |
| Current Price | 1.05961 |
| Next Low | 1.05232 |
| 2nd Low | 1.05159 |
| 3rd Low | 1.05118 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing