EUR/USD – 30M – SELLThe combination Euro/US Dollar (EUR/USD) moves from the bullish trendline downwards
A bearish trend downwards to the next support level at 1.05275 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.05873 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Line Strike – Bearish’ candle chart pattern is discovered. The chart forms ‘Three Line Strike – Bearish’. which is a bearish pattern signal. The pair is likely to go down. 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 | 1.06542 |
| 2nd High | 1.06094 |
| Next High | 1.05873 |
| Current Price | 1.05595 |
| Next Low | 1.05275 |
| 2nd Low | 1.04744 |
| 3rd Low | 1.04571 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Line Strike – Bearish