EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) jumps from the ascending trendline downwards
The bearish trend downwards to the next support at 1.04252 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.05299 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06094 |
| 2nd High | 1.05545 |
| Next High | 1.05299 |
| Current Price | 1.05034 |
| Next Low | 1.04252 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing