EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) moves from the bullish trendline downwards
A bearish movement down to the next support line at 1.04051 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.04471 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. 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 | 1.05155 |
| 2nd High | 1.05124 |
| Next High | 1.04471 |
| Current Price | 1.04255 |
| Next Low | 1.04051 |
| 2nd Low | 1.03832 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing