EUR/USD – 4H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the ascending trendline downwards
A bearish movement downwards to the next support line at 1.02238 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.04580 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Tweezers Top’ chart pattern is discovered. The candles form ‘Tweezers Top’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04580 |
| Current Price | 1.03892 |
| Next Low | 1.02238 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Tweezers Top