EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 1.62090 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.62499 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Bearish Engulfing’ candle chart pattern is detected. The chart forms ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62743 |
| 2nd High | 1.62502 |
| Next High | 1.62499 |
| Current Price | 1.62262 |
| Next Low | 1.62090 |
| 2nd Low | 1.61995 |
| 3rd Low | 1.61689 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing