EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
A bearish descent downwards to the next support at 1.66064 is likely expected.
Caution: A possible change in the direction of resistance at 1.66641 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Shooting Star’ chart pattern is discovered. The candles show ‘Shooting Star’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67440 |
| 2nd High | 1.67107 |
| Next High | 1.66641 |
| Current Price | 1.66278 |
| Next Low | 1.66064 |
| 2nd Low | 1.65839 |
| 3rd Low | 1.65777 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Shooting Star