EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A descending movement downwards to the next support line at 1.64748 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.65767 could be enabled.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish SBS White Lines’ chart pattern is detected. The chart forms ‘Bearish SBS White Lines’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ going 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 | 1.65566 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish SBS White Lines