EUR/AUD – 4H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
A bearish trend downwards to the next support level at 1.63613 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.67087 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Evening Star’ candlestick pattern is existing. The candles show ‘Evening Star’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Evening Star’ heading 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