EUR/AUD – 30M – SELL

The combination Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.

The bearish trend downwards to the next support line at 1.61995 is likely expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.62502 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing