EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support line at 1.03713 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.04580 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.03917612 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of support at 1.04580 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Three Black Crows’ chart pattern is found. The candles form ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05155 |
| 2nd High | 1.05124 |
| Next High | 1.04580 |
| Current Price | 1.03932 |
| Next Low | 1.03713 |
| 2nd Low | 1.03430 |
| 3rd Low | 1.03328 |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows