EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 1.62383 is expected.
Caution: A possible change in the direction of the resistance line at 1.62998 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64969 |
| 2nd High | 1.63611 |
| Next High | 1.62998 |
| Current Price | 1.62320 |
| Next Low | 1.62383 |
| 2nd Low | 1.62029 |
| 3rd Low | 1.61911 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing