EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A bearish trend downwards to the next support level at 1.66222 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.66926 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ candle chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67149 |
| 2nd High | 1.67046 |
| Next High | 1.66926 |
| Current Price | 1.66621 |
| Next Low | 1.66222 |
| 2nd Low | 1.66040 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing