EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the bullish trendline down.
A bearish movement down to the next support level at 1.04571 will continue.
Caution: A possible counter-trend in the direction of the resistance line at 1.06094 is also possible.
Consider stop-loss settings accordingly.
Additionally a ‘Three Line Strike – Bearish’ candlestick chart pattern is existing. The candles show ‘Three Line Strike – Bearish’. this 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 | 1.06628 |
| 2nd High | 1.06542 |
| Next High | 1.06094 |
| Current Price | 1.05616 |
| Next Low | 1.04571 |
| 2nd Low | 1.04252 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Line Strike – Bearish