EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) jumps from the ascending trendline down.
The bearish trend down to the next support level at 1.05159 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.06094 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.05203462 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 1.06094 should be noted.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle chart pattern is discovered. The chart shows ‘Three Black Crows’. which 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 ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06628 |
| 2nd High | 1.06542 |
| Next High | 1.06094 |
| Current Price | 1.05216 |
| Next Low | 1.05159 |
| 2nd Low | 1.04961 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows