EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) moves from the bullish trendline downwards
A bearish descent down to the next support at 1.04744 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.05873 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candlestick pattern is existing. The candles show ‘Bearish Engulfing’. 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 probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06542 |
| 2nd High | 1.06094 |
| Next High | 1.05873 |
| Current Price | 1.05497 |
| Next Low | 1.04744 |
| 2nd Low | 1.04571 |
| 3rd Low | 1.04252 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing