EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) jumps from the bearish trendline downwards
A continuation of the downtrend down to the next support line at 1.16637 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.17622 could occur.
Consider stop-loss settings accordingly.
Also there is a ‘Two Crows’ chart pattern is existing. The candles form ‘Two Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.18487 |
| 2nd High | 1.17906 |
| Next High | 1.17622 |
| Current Price | 1.16971 |
| Next Low | 1.16637 |
| 2nd Low | 1.16429 |
| 3rd Low | 1.15237 |
1.17622 – 1.17906 – 1.18487 – 1.17188 – 1.17289 – 1.17717 —
1.17165 – 1.17132 —
32.563131751069 – 37.967825283423 —
– —
1.17622 – 1776844800
Trading Signals: FOREX – EUR – EUR/USD – USD – Two Crows – – – – – – – – –