EUR/USD – 30M – SELLThe combination Euro/US Dollar (EUR/USD) jumps from the bullish trendline downwards
The bearish trend downwards to the next support at 1.04744 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.05340 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05390 |
| 2nd High | 1.05370 |
| Next High | 1.05340 |
| Current Price | 1.04817 |
| Next Low | 1.04744 |
| 2nd Low | 1.04532 |
| 3rd Low | 1.04252 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing