EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 1.04806 is certain.
Caution: A possible change in the direction of the resistance zone at 1.05303 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Bearish Engulfing’ candlestick chart pattern is found. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05842 |
| 2nd High | 1.05382 |
| Next High | 1.05303 |
| Current Price | 1.05194 |
| Next Low | 1.04806 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing