EUR/AUD – 30M – SELL

The combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline down.

A continuation of the downtrend downwards to the next support line at 1.61995 is likely expected.

Caution: A possible change in the direction of resistance at 1.62499 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.61995 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 1.62499 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish signal. 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%.

Download EUR/AUD Signal Image

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