EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 1.64869 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.65204 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Evening Star’ chart pattern is discovered. The chart shows ‘Evening Star’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65767 |
| Next High | 1.65204 |
| Current Price | 1.65010 |
| Next Low | 1.64869 |
| 2nd Low | 1.64192 |
| 3rd Low | 1.63974 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star