EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline downwards
A descent down to the next support at 1.67012 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.67762 could occur.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Last Engulfing Bottom:’ candlestick chart pattern is found. The candles show ‘Last Engulfing Bottom:’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.68016 |
| Next High | 1.67762 |
| Current Price | 1.67320 |
| Next Low | 1.67012 |
| 2nd Low | 1.66910 |
| 3rd Low | 1.66898 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Bottom: