EUR/AUD – 4H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A descending movement down to the next support level at 1.63613 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.67087 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Evening Star’ candlestick pattern is detected. The chart forms ‘Evening Star’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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