EUR/AUD – 30M – SELL

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

A continuation of the downtrend downwards to the next support line at 1.64241 is certain.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.65157 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 1.64241 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.65157 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Next a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.65157 – 1.65542 – 1.65688 – 1.64793 – 1.64523 – 1.64241 —
1.64926 – 1.64588 —
43.685734899788 – 45.833934341568 —
– —
1.65157 – 1773054000

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – – – – – – – – –