EUR/AUD – 4H – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
A bearish movement downwards to the next support at 1.63613 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.67149 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Last Engulfing Bottom:’ candle chart pattern is detected. The chart shows ‘Last Engulfing Bottom:’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.67149 |
| Current Price | 1.66439 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Bottom: