EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
A bearish descent downwards to the next support at 1.65339 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.66790 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Tweezers Top’ candle pattern is existing. The chart forms ‘Tweezers Top’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘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 | 1.66790 |
| Current Price | 1.66464 |
| Next Low | 1.65339 |
| 2nd Low | 1.65222 |
| 3rd Low | 1.65080 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Top