EUR/USD – 4H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 1.04532 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.06297 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle chart pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09968 |
| 2nd High | 1.09367 |
| Next High | 1.06297 |
| Current Price | 1.05083 |
| Next Low | 1.04532 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing