EUR/AUD – 4H – SELL

The combination Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline down.

A continuation of the downward movement downwards to the next support at 1.61997 is likely expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.64803 should be noted.
In the case of a trade, always set appropriate stop-loss settings.

There is also a ‘Last Engulfing Bottom:’ candlestick pattern is existing. The candles form ‘Last Engulfing Bottom:’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Last Engulfing Bottom:’ heading down is 65% (Bull Market) & 67% (Bear Market).

1.64803 – 1.66898 – 1.68458 – 1.63942 – 1.64992 – 1.65003 —
1.64099 – 1.63741 —
36.347136320494 – 32.711504305486 —
– —
1.64803 – 1776643200

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Bottom: – Rising Wedge Chart Pattern – – – – – – – –