EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support at 1.04856 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 1.05245 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05370 |
| 2nd High | 1.05305 |
| Next High | 1.05245 |
| Current Price | 1.05109 |
| Next Low | 1.04856 |
| 2nd Low | 1.04821 |
| 3rd Low | 1.04532 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing