EUR/USD – 30M – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 1.04856 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.05226 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candlestick pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05305 |
| 2nd High | 1.05241 |
| Next High | 1.05226 |
| Current Price | 1.05049 |
| Next Low | 1.04856 |
| 2nd Low | 1.04821 |
| 3rd Low | 1.04532 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing