EUR/USD – 30M – SELL

The combination Euro/US Dollar (EUR/USD) jumps from the bearish trendline down.

A continuation of the downtrend downwards to the next support line at 1.17149 is considered certain.

Caution: A possible reversal of the trend in the direction of the resistance zone at 1.17849 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Besides a ‘Bearish Engulfing’ candle pattern is existing. The chart shows ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ going down is 79%.

1.17849 – 1.17412 – 1.1689 – 1.17149 – 1.17184 – 1.17238 —
1.17205 – 1.17283 —
38.475859431424 – 42.915473671695 —
1.17149 – 1777678200 —
1.17849 – 1777654800

Trading Signals: FOREX – EUR – EUR/USD – USD – Bearish Engulfing – – – – – – – – –