EUR/USD – 30M – SELLThe combination Euro/US Dollar (EUR/USD) moves from the descending trendline downwards
A continuation of the downward movement downwards to the next support line at 1.02952 is expected.
Caution: A possible change in the direction of resistance at 1.03572 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.02732 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support level at 1.03572 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Two Crows’ candle pattern is detected. The chart shows ‘Two Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04366 |
| 2nd High | 1.04340 |
| Next High | 1.03572 |
| Current Price | 1.02974 |
| Next Low | 1.02952 |
| 2nd Low | 1.02732 |
| 3rd Low | 1.02643 |