EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the bullish trendline down.
A bearish movement down to the next support at 1.04252 is likely expected.
Caution: A possible counter-trend in the direction of resistance at 1.05299 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Black Crows’ candle pattern is found. The candles show ‘Three Black Crows’. 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 likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06094 |
| 2nd High | 1.05545 |
| Next High | 1.05299 |
| Current Price | 1.04796 |
| Next Low | 1.04252 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows