EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline down.
A bearish trend down to the next support line at 1.65803 is expected.
Caution: A possible trend reversal in the direction of the resistance level at is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Bearish SBS White Lines’ candlestick pattern is existing. The chart forms ‘Bearish SBS White Lines’. which is a negative pattern signal. The 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 | |
| 2nd High | |
| Next High | |
| Current Price | 1.66752 |
| Next Low | 1.65803 |
| 2nd Low | 1.64748 |
| 3rd Low | 1.63613 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish SBS White Lines