EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
The bearish trend downwards to the next support level at 1.66386 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.67010 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Besides a ‘Bearish Engulfing’ candle chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67087 |
| 2nd High | 1.67049 |
| Next High | 1.67010 |
| Current Price | 1.66527 |
| Next Low | 1.66386 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing