Then a ‘Symmetrical Triangle Chart Pattern’ chart formation is found. The chart picture shows ‘Symmetrical Triangle Chart Pattern’. this is a bearish chart scenario. The currency pair is likely to fall.
The combination Euro/US Dollar (EUR/USD) jumps from the descending trendline down.
A continuation of the downward movement down to the next support level at 1.18558 is considered certain.
Caution: A possible change in the direction of resistance at 1.18731 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three Black Crows’ candlestick chart pattern is discovered. The candles form ‘Three Black Crows’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.19269 |
| 2nd High | 1.18895 |
| Next High | 1.18731 |
| Current Price | 1.18574 |
| Next Low | 1.18558 |
| 2nd Low | 1.18519 |
| 3rd Low | 1.18326 |
1.18731 – 1.18895 – 1.18875 – 1.18558 – 1.18519 – 1.18326 —
1.18697 – 1.18639 —
46.101693951513 – 40.882695601874 —
– —
1.18731 – 1770951600
Trading Signals: FOREX – EUR – EUR/USD – USD – Three Black Crows – Symmetrical Triangle Chart Pattern – – – – – – – –