EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A bearish movement down to the next support at 1.66311 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Bearish Engulfing’ candle chart pattern is existing. The candles show ‘Bearish Engulfing’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.67698 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing