EUR/AUD – 4H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A bearish descent down to the next support at 1.63613 will continue.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.68016 should be noted.
Consider stop-loss settings accordingly.
Also there is a ‘Bearish Engulfing’ candlestick pattern is discovered. The chart shows ‘Bearish Engulfing’. this is a bearish signal. 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 | 1.68016 |
| Current Price | 1.66943 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing