EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.04806 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.05349 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three Black Crows’ chart pattern is existing. The candles show ‘Three Black Crows’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05842 |
| 2nd High | 1.05382 |
| Next High | 1.05349 |
| Current Price | 1.05092 |
| Next Low | 1.04806 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows