EUR/USD – 4H – SELLThe pair Euro/US Dollar (EUR/USD) goes from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.04580 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Down’ chart pattern is found. The candles show ‘Three Outside Down’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04580 |
| Current Price | 1.03181 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Down