EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 1.65777 will persist.
Caution: A possible trend reversal in the direction of resistance at 1.66555 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Tweezers Top’ candle pattern is found. The chart shows ‘Tweezers Top’. which is a bearish signal. The pair is likely to go down. 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 | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66555 |
| Current Price | 1.66257 |
| Next Low | 1.65777 |
| 2nd Low | 1.65446 |
| 3rd Low | 1.65407 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Top