EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A bearish descent down to the next support line at 1.66386 is certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.67010 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Last Engulfing Bottom:’ candle chart pattern is existing. The chart shows ‘Last Engulfing Bottom:’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Last Engulfing Bottom:’ going down is 65% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67087 |
| 2nd High | 1.67049 |
| Next High | 1.67010 |
| Current Price | 1.66501 |
| Next Low | 1.66386 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Bottom: