EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support at 1.05232 is likely expected.
Caution: A possible change in the direction of the resistance line at 1.06094 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ candlestick pattern is found. The chart shows ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06628 |
| 2nd High | 1.06542 |
| Next High | 1.06094 |
| Current Price | 1.05552 |
| Next Low | 1.05232 |
| 2nd Low | 1.05159 |
| 3rd Low | 1.04961 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows