EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards
A continuation of the downward movement downwards to the next support at 1.62029 is certain.
Caution: A possible change in the direction of the resistance level at 1.62792 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish 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 | 1.62792 |
| Current Price | 1.62224 |
| Next Low | 1.62029 |
| 2nd Low | 1.61829 |
| 3rd Low | 1.61620 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing