Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.035045 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 1.04340 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candle pattern is existing. The candles show ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.04580 |
2nd High | 1.04366 |
Next High | 1.04340 |
Current Price | 1.03824 |
Next Low | 1.03757 |
2nd Low | 1.02952 |
3rd Low | 1.02732 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows