EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 1.12655 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.13645 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ chart pattern is detected. The candles form ‘Three Black Crows’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
Furthermore a ‘Double top chart pattern’ chart layout is discovered. The chart picture forms ‘Double top chart pattern’. which is a bearish pattern signal. The pair is likely to go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.13991 |
| 2nd High | 1.13805 |
| Next High | 1.13645 |
| Current Price | 1.12858 |
| Next Low | 1.12655 |
| 2nd Low | 1.12637 |
| 3rd Low | 1.09129 |
1.13645 – 1.13805 – 1.13406 – 1.12920 – 1.12655 – 1.13546
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows