EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support at 1.61260 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.62449 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bearish Engulfing’ candle chart pattern is discovered. The candles show ‘Bearish Engulfing’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62998 |
| 2nd High | 1.62792 |
| Next High | 1.62449 |
| Current Price | 1.61968 |
| Next Low | 1.61260 |
| 2nd Low | 1.60040 |
| 3rd Low | 1.60003 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing