EUR/AUD – 4H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline downwards
A descending movement down to the next support line at 1.63613 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.67087 could occur.
Consider stop-loss settings accordingly.
Then a ‘Evening Star’ candle pattern is discovered. The chart forms ‘Evening Star’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.67149 |
| Next High | 1.67087 |
| Current Price | 1.66501 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star