EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support level at 1.78849 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.79735 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Shooting Star’ candlestick pattern is existing. The candles form ‘Shooting Star’. 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 probability of ‘Shooting Star’ going down is 59% (Bull Market) & 60% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79833 |
| 2nd High | 1.79739 |
| Next High | 1.79735 |
| Current Price | 1.79532 |
| Next Low | 1.78849 |
| 2nd Low | 1.78332 |
| 3rd Low | 1.78112 |
1.79735 – 1.79641 – 1.79739 – 1.78849 – 1.78902 – 1.78987
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Shooting Star – Double bottom retreat down