EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A descent down to the next support level at 1.65992 is expected.
Caution: A possible trend reversal in the direction of resistance at 1.66641 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Bearish Engulfing’ candle pattern is existing. The candles form ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66641 |
| Current Price | 1.66443 |
| Next Low | 1.65992 |
| 2nd Low | 1.65777 |
| 3rd Low | 1.65446 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing