EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support level at is certain.
Caution: A possible change in the direction of the resistance level at 1.06542 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Three Black Crows’ candle chart pattern is found. The candles form ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.07971 |
| 2nd High | 1.06628 |
| Next High | 1.06542 |
| Current Price | 1.05473 |
| Next Low | |
| 2nd Low | |
| 3rd Low |