EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
The bearish trend downwards to the next support at 1.65777 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 1.66555 should always be considered.
Consider stop-loss settings accordingly.
Furthermore a ‘Tweezers Top’ candlestick chart pattern is found. The chart forms ‘Tweezers Top’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ going down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67440 |
| 2nd High | 1.67107 |
| Next High | 1.66555 |
| Current Price | 1.66063 |
| Next Low | 1.65777 |
| 2nd Low | 1.65446 |
| 3rd Low | 1.65407 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Top