EUR/AUD – 4H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards
A descent down to the next support at 1.63613 is certain.
Caution: A possible reversal of the trend in the direction of resistance at could happen.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles form ‘Bearish Engulfing’. which is a bearish chart scenario. The currency pair is likely to fall. 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 | |
| 2nd High | |
| Next High | |
| Current Price | 1.67698 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing