EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A bearish trend down to the next support at 1.61995 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.63070 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64969 |
| 2nd High | 1.63611 |
| Next High | 1.63070 |
| Current Price | 1.62267 |
| Next Low | 1.61995 |
| 2nd Low | 1.61689 |
| 3rd Low | 1.61260 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing