EUR/USD – 1H – SELL

The combination Euro/US Dollar (EUR/USD) jumps from the descending trendline downwards

A continuation of the downward movement down to the next support level at 1.1676 is expected.

Caution: A possible counter-trend in the direction of the resistance zone at 1.17849 could occur.
Consider stop-loss settings accordingly.

And also a ‘Last Engulfing Bottom:’ candle pattern is existing. The candles show ‘Last Engulfing Bottom:’. 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 ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).

1.17849 – 1.17412 – 1.17201 – 1.1676 – 1.17149 – 1.17184 —
1.16972 – 1.17038 —
44.197743700135 – 51.753228017013 —
– —
1.17849 – 1777654800

Trading Signals: FOREX – EUR – EUR/USD – USD – Last Engulfing Bottom: – – – – – – – – –