EUR/USD – 4H – SELLThe pair Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 1.03328 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.05340 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Outside Down’ candlestick chart pattern is discovered. The chart shows ‘Three Outside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.09367 |
| 2nd High | 1.06297 |
| Next High | 1.05340 |
| Current Price | 1.03954 |
| Next Low | 1.03328 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Down