EUR/USD – 30M – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support line at 1.04853 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.05155 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Three Line Strike – Bearish’ candlestick chart pattern is detected. The chart forms ‘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 | 1.05370 |
| 2nd High | 1.05340 |
| Next High | 1.05155 |
| Current Price | 1.04894 |
| Next Low | 1.04853 |
| 2nd Low | 1.04794 |
| 3rd Low | 1.04744 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Line Strike – Bearish