EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) moves from the descending trendline down.
A continuation of the downward movement downwards to the next support level at 1.14428 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.15208 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Collapsing Doji Star’ chart pattern is detected. The chart forms ‘Collapsing Doji Star’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Collapsing Doji Star’ going down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.16304 |
| 2nd High | 1.15475 |
| Next High | 1.15208 |
| Current Price | 1.14667 |
| Next Low | 1.14428 |
| 2nd Low | 1.14427 |
| 3rd Low | 1.14139 |
1.15208 – 1.15475 – 1.16304 – 1.14428 – 1.1487 – 1.15191 —
1.14591 – 1.14740 —
29.469923491973 – 46.153489388873 —
– —
1.15208 – 1774854000
Trading Signals: FOREX – EUR – EUR/USD – USD – Collapsing Doji Star – – – – – – – – –