EUR/AUD – 1H – SELL

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

A continuation of the downtrend down to the next support line at 1.61974 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.62872 is also possible.
Consider stop-loss settings accordingly.

There is also a ‘Bearish Belt Hold’ candle chart pattern is found. The chart forms ‘Bearish Belt Hold’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Belt Hold’ going down is 68% (Bull Market) & 69% (Bear Market).

1.62872 – 1.62548 – 1.63721 – 1.61974 – 1.61839 – 1.62483 —
1.62741 – 1.62645 —
63.385953931863 – 56.486518920586 —
– —
1.62872 – 1778209200

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Belt Hold – – – – – – – – –