EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A descending movement down to the next support line at 1.66311 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.67010 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.66891068 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of support at 1.67010 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Bearish Engulfing’ candle pattern is detected. The chart shows ‘Bearish Engulfing’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67087 |
| 2nd High | 1.67049 |
| Next High | 1.67010 |
| Current Price | 1.66869 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.66040 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing