EUR/AUD – 30M – SELL

The combination Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards

A continuation of the downtrend downwards to the next support line at 1.62509 is likely expected.

Caution: A possible counter-trend in the direction of the resistance zone at 1.63275 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘StochRSI %K line crosses below %D line’ indicator layout is discovered. The indicator is ‘StochRSI %K line crosses below %D line’. this is usually a bearish chart signal. The currency pair is likely to fall.

Then a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which could be a negative signal. The pair is likely to go down.

Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.622785 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 1.63275 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ chart pattern is found. The candles show ‘Bearish Engulfing’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.

1.63275 – 1.62939 – 1.62802 – 1.62509 – 1.61356 – 1.61282 —
1.63238 – 1.62840 —
73.752704629279 – 50.875398096653 —
– —
1.63275 – 1773394200

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –