EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A bearish trend down to the next support at 1.66064 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.66641 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bullish Engulfing’ candlestick pattern is detected. The chart forms ‘Bullish Engulfing’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67440 |
| 2nd High | 1.67107 |
| Next High | 1.66641 |
| Current Price | 1.66192 |
| Next Low | 1.66064 |
| 2nd Low | 1.65839 |
| 3rd Low | 1.65777 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing