EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
A bearish descent down to the next support at is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.71023 is within the realm of possibility.
Consider stop-loss settings accordingly.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The currency pair is likely to rise.
Next a ‘Bullish Engulfing’ chart pattern is found. The candles form ‘Bullish Engulfing’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.74663 |
| 2nd High | 1.72337 |
| Next High | 1.71023 |
| Current Price | 1.70690 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.71023 – 1.72337 – 1.7194 – 1.68932 – 1.71419 – 1.711 —
1.69844 – 1.70669 —
47.413318038411 – 59.05699976766 —
– —
1.71023 – 1769706000
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing – Double bottom retreat down – – – – – – – –