EUR/USD – 30M – SELL

The combination Euro/US Dollar (EUR/USD) goes from the ascending trendline down.

A bearish trend down to the next support at 1.15069 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 1.16451 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Resistance Level’ indicator signal is existing. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Current target is 1.1576 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support zone at 1.16451 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

In addition a ‘Three Outside Down’ chart pattern is discovered. The chart shows ‘Three Outside Down’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.16451 – 1.1621 – 1.16209 – 1.15069 – 1.15456 – 1.15584 —
1.16331 – 1.16265 —
66.727677005895 – 59.952626489698 —
– —
1.16451 – 1773104400

Trading Signals: FOREX – EUR – EUR/USD – USD – Three Outside Down – – – – – – – – –