EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
The bearish trend down to the next support at 1.61260 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 1.62366 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Bearish Engulfing’ chart pattern is existing. The chart shows ‘Bearish Engulfing’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62998 |
| 2nd High | 1.62792 |
| Next High | 1.62366 |
| Current Price | 1.62195 |
| Next Low | 1.61260 |
| 2nd Low | 1.60040 |
| 3rd Low | 1.60003 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing