EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support level at 1.04744 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.05245 should be noted.
Consider stop-loss settings accordingly.
Moreover a ‘Three Black Crows’ candlestick chart pattern is found. The candles show ‘Three Black Crows’. which 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 likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05390 |
| 2nd High | 1.05305 |
| Next High | 1.05245 |
| Current Price | 1.04888 |
| Next Low | 1.04744 |
| 2nd Low | 1.04532 |
| 3rd Low | 1.04252 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows