The combination Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
A descending movement downwards to the next support level at 1.64894 will continue.
Caution: A possible trend reversal in the direction of resistance at 1.68016 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Harami’ candlestick pattern is found. The candles form ‘Bearish Harami’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Harami’ heading down is 53% (Bull Market) & 50% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | |
Next High | 1.68016 |
Current Price | 1.66283 |
Next Low | 1.64894 |
2nd Low | 1.63613 |
3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Harami