EUR/AUD – 4H – SELLIn addition a ‘Double top retreat up’ chart pattern is existing. The formation shows ‘Double top retreat up’. this is a bullish pattern signal. The currency pair is likely to go up.
The pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline downwards
A descent downwards to the next support line at 1.73553 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.74562 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘MACD crosses above signal’ indicator signal is discovered. The indicator shows ‘MACD crosses above signal’. this is usually a bullish signal. The currency pair is likely to rise.
In addition a ‘Bullish Engulfing’ candle chart pattern is discovered. The candles show ‘Bullish Engulfing’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.76228 |
| 2nd High | 1.76148 |
| Next High | 1.74562 |
| Current Price | 1.73802 |
| Next Low | 1.73553 |
| 2nd Low | 1.72907 |
| 3rd Low | 1.72472 |
1.74562 – 1.74544 – 1.76148 – 1.73553 – 1.72907 – 1.74801 —
1.73864 – 1.73786 —
41.634809287587 – 44.587172010394 —
– —
1.74562 – 1768406400
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing – Double top retreat up – – – – – – – –