EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the ascending trendline down.
A descending movement downwards to the next support line at 1.04051 is certain.
Caution: A possible change in the direction of resistance at 1.04438 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Three Black Crows’ candlestick pattern is found. The chart forms ‘Three Black Crows’. 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 chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04471 |
| Next High | 1.04438 |
| Current Price | 1.04248 |
| Next Low | 1.04051 |
| 2nd Low | 1.03832 |
| 3rd Low | 1.03430 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows