EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the bullish trendline down.
The bearish trend downwards to the next support level at 1.04051 will continue.
Caution: A possible trend reversal in the direction of resistance at 1.04438 could occur.
Consider stop-loss settings accordingly.
There is also a ‘Bearish Belt Hold’ candle chart pattern is found. The chart forms ‘Bearish Belt Hold’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04471 |
| Next High | 1.04438 |
| Current Price | 1.03889 |
| Next Low | 1.04051 |
| 2nd Low | 1.03832 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Belt Hold