EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A bearish trend downwards to the next support level at 1.64192 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.65767 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candlestick chart pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65767 |
| Current Price | 1.65100 |
| Next Low | 1.64192 |
| 2nd Low | 1.63974 |
| 3rd Low | 1.63613 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing