EUR/AUD – 4H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline downwards
A continuation of the downward movement down to the next support at 1.64894 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.68016 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Harami’ candlestick pattern is discovered. The chart forms ‘Bearish Harami’. which is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.66169 |
| Next Low | 1.64894 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Harami