EUR/USD – 4H – SELL

The pair Euro/US Dollar (EUR/USD) goes from the ascending trendline downwards

A descending movement down to the next support at is likely expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.18487 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.164575 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 1.18487 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Then a ‘Last Engulfing Bottom:’ candle pattern is existing. The candles form ‘Last Engulfing Bottom:’. 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 ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

1.18487 – 1.16267 – 1.16394 – 1.17289 – 1.15048 – 1.14428 —
1.17751 – 1.17756 —
48.878309282896 – 40.61303679848 —
– —
1.18487 – 1776441600

Trading Signals: FOREX – EUR – EUR/USD – USD – Last Engulfing Bottom: – – – – – – – – –