EUR/AUD – 4H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline down.
A bearish descent down to the next support line at 1.63613 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.67087 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Evening Star’ chart pattern is discovered. The candles form ‘Evening Star’. this is a bearish chart scenario. The 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 | |
| 2nd High | 1.67149 |
| Next High | 1.67087 |
| Current Price | 1.66501 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star