EUR/USD – 1H – SELL

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

A descending movement down to the next support at 1.16936 is likely expected.

Caution: A possible change in the direction of the resistance zone at 1.17545 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Next a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.

1.17545 – 1.17161 – 1.17622 – 1.16936 – 1.16687 – 1.17188 —
1.17266 – 1.17004 —
44.916533866849 – 36.15629295506 —
– —
1.17545 – 1777302000

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