EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline downwards
The bearish trend downwards to the next support at 1.66910 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 1.67700 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.68016 |
| Next High | 1.67700 |
| Current Price | 1.67302 |
| Next Low | 1.66910 |
| 2nd Low | 1.66898 |
| 3rd Low | 1.66311 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing