EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline down.
A continuation of the downtrend down to the next support at 1.65460 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.65928 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Last Engulfing Top’ candlestick chart pattern is existing. The chart forms ‘Last Engulfing Top’. 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 chance of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67107 |
| 2nd High | 1.65939 |
| Next High | 1.65928 |
| Current Price | 1.65666 |
| Next Low | 1.65460 |
| 2nd Low | 1.65222 |
| 3rd Low | 1.65080 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Top