EUR/USD – 30M – SELL

The currency pair Euro/US Dollar (EUR/USD) moves from the descending trendline down.

A continuation of the downward movement down to the next support at 1.18045 is certain.

Caution: A possible change in the direction of the resistance zone at 1.18571 is also possible.
Consider stop-loss settings accordingly.

Moreover a ‘StochRSI %K line crosses below %D line’ indicator signal is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart signal. The currency pair could go down.

Moreover a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles form ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.18571 – 1.18494 – 1.187 – 1.18045 – 1.18458 – 1.18585 —
1.18460 – 1.18460 —
50.434577016148 – 49.521654906754 —
– —
1.18571 – 1771376400

Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing – – – – – – – – –