EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 1.62081 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.62364 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62998 |
| 2nd High | 1.62792 |
| Next High | 1.62364 |
| Current Price | 1.62133 |
| Next Low | 1.62081 |
| 2nd Low | 1.62029 |
| 3rd Low | 1.61911 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing