EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline down.
A descent down to the next support line at 1.66311 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.68016 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish signal. The 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 | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.66990 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing