EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
A bearish trend down to the next support level at 1.65782 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.66555 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bearish Engulfing’ candle pattern is existing. The chart shows ‘Bearish Engulfing’. 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 ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67440 |
| 2nd High | 1.67107 |
| Next High | 1.66555 |
| Current Price | 1.65929 |
| Next Low | 1.65782 |
| 2nd Low | 1.65446 |
| 3rd Low | 1.65407 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing