EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards
A bearish trend downwards to the next support line at 1.66898 will continue.
Caution: A possible change in the direction of the resistance line at 1.68016 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Last Engulfing Bottom:’ candle pattern is discovered. The candles show ‘Last Engulfing Bottom:’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.66977 |
| Next Low | 1.66898 |
| 2nd Low | 1.66311 |
| 3rd Low | 1.66197 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Bottom: