EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline down.
A descent downwards to the next support line at 1.63342 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.63924 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candlestick pattern is detected. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65429 |
| 2nd High | 1.64969 |
| Next High | 1.63924 |
| Current Price | 1.64036 |
| Next Low | 1.63342 |
| 2nd Low | 1.63237 |
| 3rd Low | 1.61957 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing