EUR/USD – 4H – SELLCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Current target is 1.03195924 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support level at 1.04580 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Bearish Harami’ candlestick pattern is detected. The chart shows ‘Bearish Harami’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04580 |
| Current Price | 1.03964 |
| Next Low | 1.02238 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Harami