EUR/AUD – 30M – SELL

The pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline down.

The bearish trend downwards to the next support line at 1.65803 is certain.

Caution: A possible trend reversal in the direction of the resistance zone at should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing