EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
A descending movement downwards to the next support line at 1.66197 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 1.67087 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.67149 |
| Next High | 1.67087 |
| Current Price | 1.66754 |
| Next Low | 1.66197 |
| 2nd Low | 1.66040 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing