EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A bearish descent down to the next support at 1.65446 will continue.
Caution: A possible trend reversal in the direction of resistance at 1.66514 should always be considered.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candle pattern is existing. The chart forms ‘Bearish Engulfing’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66514 |
| Current Price | 1.65870 |
| Next Low | 1.65446 |
| 2nd Low | 1.65407 |
| 3rd Low | 1.65222 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing