EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
The bearish trend downwards to the next support at 1.67217 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at could happen.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Bearish Engulfing’ candle pattern is discovered. The chart shows ‘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 probability of ‘Bearish Engulfing’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.67391 |
| Next Low | 1.67217 |
| 2nd Low | 1.66311 |
| 3rd Low | 1.66197 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing