EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline down.
A continuation of the downward movement down to the next support level at 1.63504 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.65191 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Evening Star’ chart pattern is existing. The chart forms ‘Evening Star’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Evening Star’ going down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65604 |
| Next High | 1.65191 |
| Current Price | 1.65118 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star