EUR/AUD – 1H – SELL

The pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline down.

A continuation of the bearish trend downwards to the next support at 1.67828 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.68542 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Bearish Engulfing’ candle pattern is discovered. The candles form ‘Bearish Engulfing’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

1.68542 – 1.69046 – 1.70628 – 1.67828 – 1.67986 – 1.67963 —
1.68337 – 1.68209 —
45.248181414016 – 42.90378254427 —
– —
1.68542 – 1770710400

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – Head and Shoulder chart pattern – – – – – – – –