EUR/USD – 1H – SELLThe currency pair Euro/US Dollar (EUR/USD) goes from the bullish trendline downwards
A bearish movement downwards to the next support at 1.17074 will continue.
Caution: A possible trend reversal in the direction of resistance at should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘On Neck’ candle pattern is detected. The chart forms ‘On Neck’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘On Neck’ going down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.17756 |
| Next Low | 1.17074 |
| 2nd Low | 1.16875 |
| 3rd Low | 1.16805 |
1.17536 – 1.17450 – 1.16413 – 1.17074 – 1.16875 – 1.16805