Resistance: 1.249 strong/1.253 moderate/1.258 minor

Support: 1.244 moderate/1.240 minor/1.236 minor

Bearish Engulfing is just under the pivot point in EURUSD Hourly charts, a moderate bearish pattern below a strong resistance. Given proximity to 1.249, we can consider shorts under the said price with stops placed above the Pivot Point for a low risk-high reward trade. Immediate objective is 1.244 then on to 1.240 break of which gives us a run on the market.

Learn more about the chart patterns and how to recognize them in our Learning Center: Japanese Candlesticks - A Way To Look At Prices