EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
The bearish trend down to the next support level at 1.65407 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.66514 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candle chart pattern is found. The candles show ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66514 |
| Current Price | 1.65996 |
| Next Low | 1.65407 |
| 2nd Low | 1.65222 |
| 3rd Low | 1.65080 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing