The currency pair jumps from the ascending trendline down.
A bearish trend down to the next support line at 1.38418 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.39583 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candlestick chart pattern is found. The chart shows ‘Three Black Crows’. 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 ‘Three Black Crows’ going down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | 1.39585 |
Next High | 1.39583 |
Current Price | 1.39256 |
Next Low | 1.38418 |
2nd Low | 1.38182 |
3rd Low | 1.38122 |