Sell EUR/USD – 1H – SELL

The currency pair Euro/US Dollar (EUR/USD) jumps from the ascending trendline downwards

The bearish trend downwards to the next support level at 1.02238 is expected.

Caution: A possible trend reversal in the direction of resistance at 1.03572 is also possible.
Consider stop-loss settings accordingly.

And also a ‘Bearish Engulfing’ candlestick chart pattern is detected. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

Support & Resistance Price Range*
3rd High 1.04366
2nd High 1.04340
Next High 1.03572
Current Price 1.02545
Next Low 1.02238
2nd Low
3rd Low

Download EUR/USD Signal Image

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