EUR/USD – 30M – SELLCorrection of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.04386 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.05299 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Line Strike – Bearish’ chart pattern is found. The chart forms ‘Three Line Strike – Bearish’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05545 |
| 2nd High | 1.05444 |
| Next High | 1.05299 |
| Current Price | 1.04449 |
| Next Low | 1.03918 |
| 2nd Low | 1.03328 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Line Strike – Bearish