EUR/USD – 1H – SELLFurthermore a ‘Double bottom chart pattern’ chart layout is detected. The chart forms ‘Double bottom chart pattern’. which is a positive chart scenario. The currency pair is likely to go up.
The currency pair Euro/US Dollar (EUR/USD) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.13726 is certain.
Caution: A possible change in the direction of resistance at 1.14947 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Two Crows’ candle pattern is existing. The candles show ‘Two Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.15730 |
| 2nd High | 1.15469 |
| Next High | 1.14947 |
| Current Price | 1.14197 |
| Next Low | 1.13726 |
| 2nd Low | 1.13713 |
| 3rd Low | 1.13568 |
1.14353 – 1.14388 – 1.14947 – 1.13726 – 1.13862 – 1.13713