EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A bearish movement down to the next support at 1.61957 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.63684 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘Bearish Engulfing’. which is a bearish 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 | 1.65282 |
| 2nd High | 1.64969 |
| Next High | 1.63684 |
| Current Price | 1.63652 |
| Next Low | 1.61957 |
| 2nd Low | 1.61685 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing