EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the descending trendline downwards
A continuation of the bearish trend down to the next support at 1.04877 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.05349 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Black Crows’ candle chart pattern is discovered. The chart forms ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05842 |
| 2nd High | 1.05382 |
| Next High | 1.05349 |
| Current Price | 1.05035 |
| Next Low | 1.04877 |
| 2nd Low | 1.04806 |
| 3rd Low | 1.04604 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows