EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A bearish movement downwards to the next support at 1.6449 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.66227 could be enabled.
Consider stop-loss settings accordingly.
In addition a ‘Last Engulfing Bottom:’ candle pattern is found. The candles form ‘Last Engulfing Bottom:’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67194 |
| 2nd High | 1.66273 |
| Next High | 1.66227 |
| Current Price | 1.66237 |
| Next Low | 1.6449 |
| 2nd Low | 1.62897 |
| 3rd Low | 1.62571 |
1.66227 – 1.64162 – 1.63187 – 1.6449 – 1.62897 – 1.62571 —
1.66291 – 1.66587 —
56.998346661971 – 58.090992814219 —
– —
1.66227 – 1774270800
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Bottom: – – – – – – – – –