EUR/USD – 1H – SELL

The currency pair Euro/US Dollar (EUR/USD) jumps from the descending trendline down.

A continuation of the downward movement downwards to the next support level at 1.13862 is expected.

Caution: A possible change in the direction of the resistance zone at 1.14353 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Resistance Level’ indicator signal is detected. The indicator is ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.

Correction of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 1.13863106 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support level at 1.14353 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ candlestick pattern is discovered. The chart forms ‘Three Outside Down’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.14353 – 1.14388 – 1.14947 – 1.13862 – 1.13713 – 1.14042

Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Down