EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the ascending trendline down.
A bearish descent down to the next support level at 1.185 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.20821 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.20821 |
| Current Price | 1.19213 |
| Next Low | 1.185 |
| 2nd Low | 1.18345 |
| 3rd Low | 1.16699 |
1.20821 – 1.19065 – 1.18972 – 1.185 – 1.18345 – 1.16699 —
1.19927 – 1.19522 —
57.320820921114 – 40.530933984154 —
– —
1.20821 – 1769551200
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing – – – – – – – – –