EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the bullish trendline downwards
A bearish descent down to the next support line at 1.04252 will continue.
Caution: A possible change in the direction of the resistance zone at 1.05299 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candlestick pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05545 |
| 2nd High | 1.05444 |
| Next High | 1.05299 |
| Current Price | 1.04864 |
| Next Low | 1.04252 |
| 2nd Low | 1.03918 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing