EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
A descending movement down to the next support level at 1.62621 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.62998 could be enabled.
Consider stop-loss settings accordingly.
Next a ‘Bearish Engulfing’ candle pattern is found. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability 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 | 1.62652 |
| Next Low | 1.62621 |
| 2nd Low | 1.62549 |
| 3rd Low | 1.62383 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing