EUR/USD – 1H – SELL

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

A continuation of the downtrend down to the next support level at 1.16586 is certain.

Caution: A possible change in the direction of the resistance line at 1.17541 is also possible.
Consider stop-loss settings accordingly.

Next a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is existing. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a negative signal. The pair is likely to go down.

Next a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. which is often a bearish 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 is certain. Current target is 1.168642 at the Fibonacci level 0.79-Level. Caution: A possible change in the direction of the support line at 1.17541 is also possible.
Consider stop-loss settings accordingly.

Next a ‘Shooting Star’ candle chart pattern is found. The chart forms ‘Shooting Star’. 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 success rate of a ‘Shooting Star’ heading down is 59% (Bull Market) & 60% (Bear Market).

1.17541 – 1.17644 – 1.17589 – 1.16586 – 1.17129 – 1.17197 —
1.17250 – 1.17386 —
59.662727315262 – 56.342249711173 —
– —
1.17541 – 1767376800

Trading Signals: FOREX – EUR – EUR/USD – USD – Shooting Star – – – – – – – – –