EUR/USD – 30M – SELLThe combination Euro/US Dollar (EUR/USD) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 1.185 will continue.
Caution: A possible trend reversal in the direction of the resistance level at 1.20257 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.20821 |
| Next High | 1.20257 |
| Current Price | 1.19418 |
| Next Low | 1.185 |
| 2nd Low | 1.18345 |
| 3rd Low | 1.17279 |
1.20257 – 1.20821 – 1.1899 – 1.185 – 1.18345 – 1.18362 —
1.19402 – 1.19488 —
38.402033268375 – 46.576848835236 —
– —
1.20257 – 1769590800
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing – – – – – – – – –