EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards
A bearish trend down to the next support at 1.63504 will persist.
Caution: A possible change in the direction of resistance at 1.65392 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Meeting Lines’ candle pattern is detected. The chart shows ‘Bearish Meeting Lines’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Meeting Lines’ going down is 51% (Bull Market) & 53% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65604 |
| Next High | 1.65392 |
| Current Price | 1.65168 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Meeting Lines