EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
A bearish trend down to the next support at 1.65803 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.66454 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘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 success rate of a ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.66454 |
| Current Price | 1.66626 |
| Next Low | 1.65803 |
| 2nd Low | 1.65406 |
| 3rd Low | 1.65118 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing