EUR/USD – 1H – SELLThe currency pair jumps from the ascending trendline downwards
A bearish trend downwards to the next support level at 1.11247 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.12026 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.11268256 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 1.12026 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.12136 |
| Next High | 1.12026 |
| Current Price | 1.11440 |
| Next Low | 1.11247 |
| 2nd Low | 1.11213 |
| 3rd Low | 1.11032 |