EUR/USD – 4H – SELLThe pair Euro/US Dollar (EUR/USD) goes from the ascending trendline downwards
A descending movement down to the next support line at 1.03328 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.05340 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Current target is 1.03963366 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.05340 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ chart pattern is discovered. The candles show ‘Three Black Crows’. 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 likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09367 |
| 2nd High | 1.06297 |
| Next High | 1.05340 |
| Current Price | 1.03647 |
| Next Low | 1.03328 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows