EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support at 1.04806 will persist.
Caution: A possible trend reversal in the direction of resistance at 1.05349 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candlestick pattern is detected. The chart shows ‘Bearish Engulfing’. which is a negative 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 | 1.05842 |
| 2nd High | 1.05382 |
| Next High | 1.05349 |
| Current Price | 1.05080 |
| Next Low | 1.04806 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing