EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
The bearish trend down to the next support level at 1.63613 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.65767 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Evening Star’ candlestick chart pattern is found. The chart forms ‘Evening Star’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Evening Star’ heading down is 72% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65767 |
| Current Price | 1.64216 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.63342 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Evening Star