EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) jumps from the bullish trendline downwards
A bearish descent down to the next support at 1.17610 is certain.
Caution: A possible change in the direction of the resistance level at 1.18294 could happen.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.175495 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support level at 1.18294 could happen.
Consider stop-loss settings accordingly.
Then a ‘Three Black Crows’ candle pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.18294 |
| Current Price | 1.17812 |
| Next Low | 1.17610 |
| 2nd Low | 1.17074 |
| 3rd Low | 1.16875 |
1.18294 – 1.17536 – 1.17450 – 1.17610 – 1.17074 – 1.16875
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows –