EUR/USD – 30M – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the descending trendline down.
A continuation of the downtrend down to the next support line at 1.05231 is expected.
Caution: A possible change in the direction of the resistance zone at 1.05925 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candle pattern is discovered. The candles form ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06628 |
| 2nd High | 1.06542 |
| Next High | 1.05925 |
| Current Price | 1.05231 |
| Next Low | 1.05231 |
| 2nd Low | 1.05118 |
| 3rd Low | 1.04961 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows