EUR/USD – 4H – SELLThe currency pair Euro/US Dollar (EUR/USD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support level at 1.02238 is certain.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.04580 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.03195924 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.04580 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Inside Down’ candle pattern is existing. The chart shows ‘Three Inside Down’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04580 |
| Current Price | 1.03682 |
| Next Low | 1.02238 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Inside Down