EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the bearish trendline down.
A continuation of the bearish trend down to the next support line at 1.03430 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.04580 should always be considered.
Consider stop-loss settings accordingly.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend is considered certain. Current target is 1.03713 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support line at 1.04580 should always be considered.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is existing. The chart shows ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05155 |
| 2nd High | 1.05124 |
| Next High | 1.04580 |
| Current Price | 1.03503 |
| Next Low | 1.03430 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows