EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
The bearish trend downwards to the next support at 1.66311 is certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.68016 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.67101 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing