EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
The bearish trend downwards to the next support level at 1.63237 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.63924 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Evening Star’ candle pattern is existing. The chart shows ‘Evening Star’. 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 success rate of a ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65429 |
| 2nd High | 1.64969 |
| Next High | 1.63924 |
| Current Price | 1.64136 |
| Next Low | 1.63237 |
| 2nd Low | 1.61957 |
| 3rd Low | 1.61685 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star