EUR/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is certain. Current target is 1.05318 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.05677 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Engulfing’ chart pattern is existing. The chart forms ‘Bearish Engulfing’. this is a bearish chart scenario. The 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 | 1.06297 |
| 2nd High | 1.05940 |
| Next High | 1.05677 |
| Current Price | 1.05208 |
| Next Low | 1.04721 |
| 2nd Low | 1.04604 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing