EUR/USD – 1H – SELL

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

A continuation of the bearish trend downwards to the next support at 1.17149 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.17849 should be noted.
Consider stop-loss settings accordingly.

Furthermore a ‘Bearish Engulfing’ chart pattern is existing. The candles show ‘Bearish Engulfing’. 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 probability of ‘Bearish Engulfing’ going down is 79%.

1.17849 – 1.17412 – 1.17201 – 1.17149 – 1.17184 – 1.16546 —
1.17485 – 1.17379 —
52.907986904367 – 48.776562805366 —
– —
1.17849 – 1777654800

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