EUR/USD – 4H – SELLThe currency pair Euro/US Dollar (EUR/USD) goes from the bullish trendline down.
A bearish trend downwards to the next support line at will continue.
Caution: A possible change in the direction of the resistance line at 1.04580 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.0343 at the Fibonacci level 0-Level. Caution: A possible change in the direction of support at 1.04580 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Three Black Crows’ candle chart pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.06297 |
| 2nd High | 1.05340 |
| Next High | 1.04580 |
| Current Price | 1.02611 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows