EUR/USD – 30M – SELLThe currency pair Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 1.04252 will persist.
Caution: A possible change in the direction of the resistance line at 1.05299 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Bearish Engulfing’ candle chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05545 |
| 2nd High | 1.05444 |
| Next High | 1.05299 |
| Current Price | 1.05074 |
| Next Low | 1.04252 |
| 2nd Low | 1.03918 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing