EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the descending trendline down.
A continuation of the bearish trend downwards to the next support line at 1.64864 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.65496 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish Engulfing’ candle chart pattern is discovered. The chart forms ‘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 success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65767 |
| Next High | 1.65496 |
| Current Price | 1.65393 |
| Next Low | 1.64864 |
| 2nd Low | 1.64843 |
| 3rd Low | 1.64748 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing