EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support at 1.03439 will continue.
Caution: A possible reversal of the trend in the direction of resistance at 1.04222 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05155 |
| 2nd High | 1.05124 |
| Next High | 1.04222 |
| Current Price | 1.03953 |
| Next Low | 1.03439 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing