EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 1.04051 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.04438 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Outside Down’ candle chart pattern is discovered. The chart shows ‘Three Outside Down’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04471 |
| Next High | 1.04438 |
| Current Price | 1.04237 |
| Next Low | 1.04051 |
| 2nd Low | 1.03832 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Down