EUR/USD – 1H – SELLThe pair Euro/US Dollar (EUR/USD) moves from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 1.16287 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.1697 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative chart scenario. The pair is likely to go down.
Also there is a ‘Resistance Level’ indicator layout is discovered. The indicator is ‘Resistance Level’. which could be a negative chart scenario. The currency pair could go down.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.16096804 at the Fibonacci level 0.79-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.1697 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.17871 |
| 2nd High | 1.17422 |
| Next High | 1.1697 |
| Current Price | 1.16437 |
| Next Low | 1.16287 |
| 2nd Low | 1.15736 |
| 3rd Low | 1.14532 |
1.1697 – 1.16649 – 1.17422 – 1.16287 – 1.15736 – 1.16018 — 42.650927107964 – 40.308579051721 — 74.647921259653 – 73.944366137796 – 54.22155656188 – 67.235788131775