EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 1.04806 is expected.
Caution: A possible change in the direction of the resistance level at 1.05382 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05969 |
| 2nd High | 1.05842 |
| Next High | 1.05382 |
| Current Price | 1.04997 |
| Next Low | 1.04806 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing