EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline down.
A continuation of the downtrend down to the next support level at 1.62083 is considered certain.
Caution: A possible change in the direction of the resistance level at 1.63101 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65542 |
| 2nd High | 1.63499 |
| Next High | 1.63101 |
| Current Price | 1.62351 |
| Next Low | 1.62083 |
| 2nd Low | 1.61282 |
| 3rd Low |
1.63101 – 1.63499 – 1.65542 – 1.62083 – 1.62493 – 1.62492 —
1.62399 – 1.62432 —
36.696255811457 – 47.588661104145 —
1.62083 – 1773763200 —
1.63101 – 1773727200
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – – – – – – – – –