EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.02729 will continue.
Caution: A possible counter-trend in the direction of the resistance zone at 1.03572 is within the realm of possibility.
Consider stop-loss settings accordingly.
Also there is a ‘Three Black Crows’ candlestick chart pattern is found. The candles show ‘Three Black 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 chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.04366 |
| 2nd High | 1.04340 |
| Next High | 1.03572 |
| Current Price | 1.02906 |
| Next Low | 1.02729 |
| 2nd Low | 1.02238 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows