EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) jumps from the ascending trendline down.
A descending movement down to the next support at 1.04721 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.05940 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.04966302 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support line at 1.05940 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. this is a bearish signal. The 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 | 1.06542 |
| 2nd High | 1.06297 |
| Next High | 1.05940 |
| Current Price | 1.05305 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows