EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) moves from the ascending trendline down.
A bearish movement down to the next support at 1.04721 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.05892 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candle pattern is discovered. The chart shows ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06094 |
| 2nd High | 1.05969 |
| Next High | 1.05892 |
| Current Price | 1.05509 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows