EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
The bearish trend down to the next support at 1.65839 will persist.
Caution: A possible change in the direction of the resistance zone at 1.66555 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Bearish Engulfing’ chart pattern is detected. The candles show ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67440 |
| 2nd High | 1.67107 |
| Next High | 1.66555 |
| Current Price | 1.66304 |
| Next Low | 1.65839 |
| 2nd Low | 1.65777 |
| 3rd Low | 1.65446 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing