EUR/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 1.05064 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the support level at 1.05545 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06542 |
| 2nd High | 1.06094 |
| Next High | 1.05545 |
| Current Price | 1.05202 |
| Next Low | 1.05064 |
| 2nd Low | 1.04961 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing