EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 1.78849 is certain.
Caution: A possible change in the direction of the resistance line at 1.79629 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Collapsing Doji Star’ candlestick chart pattern is detected. The candles show ‘Collapsing Doji Star’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Collapsing Doji Star’ going down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79739 |
| 2nd High | 1.79735 |
| Next High | 1.79629 |
| Current Price | 1.79328 |
| Next Low | 1.78849 |
| 2nd Low | 1.78332 |
| 3rd Low | 1.78112 |
1.79629 – 1.79735 – 1.79641 – 1.78849 – 1.78332 – 1.78367
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Collapsing Doji Star –