EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 1.64748 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.65767 is also possible.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish SBS White Lines’ candlestick chart pattern is found. The candles show ‘Bearish SBS White Lines’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65767 |
| Current Price | 1.65353 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish SBS White Lines