EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the downtrend down to the next support level at 1.61829 is likely expected.
Caution: A possible change in the direction of resistance at 1.62366 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is found. The chart shows ‘Bearish Engulfing’. 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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62998 |
| 2nd High | 1.62792 |
| Next High | 1.62366 |
| Current Price | 1.61766 |
| Next Low | 1.61829 |
| 2nd Low | 1.61620 |
| 3rd Low | 1.61392 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing