EUR/USD – 30M – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support at 1.03832 is likely expected.
Caution: A possible trend reversal in the direction of resistance at 1.04049 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04175 |
| 2nd High | 1.04095 |
| Next High | 1.04049 |
| Current Price | 1.04000 |
| Next Low | 1.03832 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing