EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
A bearish descent down to the next support line at 1.65803 is certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.67149 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Bearish Engulfing’ chart pattern is discovered. The chart forms ‘Bearish Engulfing’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.67149 |
| Current Price | 1.66015 |
| Next Low | 1.65803 |
| 2nd Low | 1.64748 |
| 3rd Low | 1.63613 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing