EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support at 1.61282 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.63166 could occur.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Shooting Star’ candlestick pattern is found. The chart forms ‘Shooting Star’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65157 |
| 2nd High | 1.64582 |
| Next High | 1.63166 |
| Current Price | 1.61679 |
| Next Low | 1.61282 |
| 2nd Low | |
| 3rd Low |
1.63166 – 1.64582 – 1.65157 – 1.61282 – 1.62683 – 1.64116 —
1.61794 – 1.61776 —
41.727584363092 – 43.149848979869 —
– —
1.63166 – 1773183600
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Shooting Star – Rising Wedge Chart Pattern – – – – – – – –