EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A bearish descent down to the next support line at 1.63924 is certain.
Caution: A possible trend reversal in the direction of resistance at 1.64599 is within the realm of possibility.
Consider stop-loss settings accordingly.
Moreover a ‘Evening Star’ chart pattern is found. The chart forms ‘Evening Star’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65282 |
| 2nd High | 1.64969 |
| Next High | 1.64599 |
| Current Price | 1.64794 |
| Next Low | 1.63924 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star