EUR/USD – 1H – SELLThe combination Euro/US Dollar (EUR/USD) goes from the bullish trendline down.
A bearish descent downwards to the next support line at 1.16546 is expected.
Caution: A possible trend reversal in the direction of resistance at 1.17412 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Belt Hold’ candle pattern is existing. The candles show ‘Bearish Belt Hold’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.17622 |
| 2nd High | 1.17545 |
| Next High | 1.17412 |
| Current Price | 1.17309 |
| Next Low | 1.16546 |
| 2nd Low | 1.16429 |
| 3rd Low | 1.15237 |
1.17412 – 1.17201 – 1.17545 – 1.16546 – 1.16609 – 1.1677 —
1.17294 – 1.17416 —
61.099427355864 – 61.120200254963 —
– —
1.17412 – 1777586400
Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Belt Hold – – – – – – – – –