EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline down.
A continuation of the downtrend down to the next support at 1.66064 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.66641 is also possible.
Consider stop-loss settings accordingly.
And also a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66641 |
| Current Price | 1.66108 |
| Next Low | 1.66064 |
| 2nd Low | 1.65777 |
| 3rd Low | 1.65446 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing