EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 1.64748 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 1.65204 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish pattern 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 ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65767 |
| Next High | 1.65204 |
| Current Price | 1.65023 |
| Next Low | 1.64748 |
| 2nd Low | 1.64192 |
| 3rd Low | 1.63974 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing