EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline down.
A continuation of the bearish trend down to the next support line at 1.63613 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.65204 should be noted.
Consider stop-loss settings accordingly.
And also a ‘Evening Star’ candlestick chart pattern is discovered. The chart forms ‘Evening Star’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65767 |
| Next High | 1.65204 |
| Current Price | 1.65014 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.63342 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star