EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.02238 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.04366 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Three Line Strike – Bearish’ candlestick chart pattern is discovered. The chart forms ‘Three Line Strike – Bearish’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.05124 |
| 2nd High | 1.04580 |
| Next High | 1.04366 |
| Current Price | 1.04133 |
| Next Low | 1.02238 |
| 2nd Low | |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Line Strike – Bearish