EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
The bearish trend downwards to the next support line at 1.66311 is expected.
Caution: A possible trend reversal in the direction of resistance at 1.66790 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67049 |
| 2nd High | 1.67010 |
| Next High | 1.66790 |
| Current Price | 1.66688 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.66040 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing