EUR/USD – 4H – SELLAlso there is a ‘Double top chart pattern’ chart layout is existing. The chart shows ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to fall.
The currency pair Euro/US Dollar (EUR/USD) goes from the ascending trendline downwards
A descending movement down to the next support line at 1.15549 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.1698 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Tweezers Top’ chart pattern is discovered. The candles show ‘Tweezers Top’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.18196 |
| 2nd High | 1.18077 |
| Next High | 1.1698 |
| Current Price | 1.15931 |
| Next Low | 1.15549 |
| 2nd Low | 1.14908 |
| 3rd Low | 1.14682 |
1.1698 – 1.18077 – 1.18037 – 1.16178 – 1.16586 – 1.17025 —
1.16411 – 1.16148 —
38.47657852311 – 33.074360037503 —
– —
1.16980 – 1768219200
Trading Signals: FOREX – EUR – EUR/USD – USD – Tweezers Top – Double top chart pattern – – – – – – – –