EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the bearish trendline downwards
A continuation of the downward movement down to the next support line at is considered certain.
Caution: A possible change in the direction of the resistance line at 1.06542 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. 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’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.07971 |
| 2nd High | 1.06628 |
| Next High | 1.06542 |
| Current Price | 1.05468 |
| Next Low | |
| 2nd Low | |
| 3rd Low |