EUR/USD – 30M – SELLThe combination Euro/US Dollar (EUR/USD) jumps from the bullish trendline downwards
A descent downwards to the next support line at 1.04919 will continue.
Caution: A possible change in the direction of the resistance zone at 1.05349 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05842 |
| 2nd High | 1.05382 |
| Next High | 1.05349 |
| Current Price | 1.05025 |
| Next Low | 1.04919 |
| 2nd Low | 1.04806 |
| 3rd Low | 1.04604 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing