EUR/USD – 30M – SELLThe currency pair Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.04604 will continue.
Caution: A possible counter-trend in the direction of the resistance level at 1.05157 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.04604 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support line at 1.05157 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bearish Engulfing’ chart pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. 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 | 1.05842 |
| 2nd High | 1.05382 |
| Next High | 1.05157 |
| Current Price | 1.04868 |
| Next Low | 1.04604 |
| 2nd Low | 1.04571 |
| 3rd Low | 1.04252 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing