EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline down.
The bearish trend downwards to the next support line at 1.65803 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candlestick pattern is found. The chart shows ‘Bearish Engulfing’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.66749 |
| Next Low | 1.65803 |
| 2nd Low | 1.65406 |
| 3rd Low | 1.65118 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing