EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
The bearish trend downwards to the next support at 1.66898 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.67700 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Belt Hold’ chart pattern is found. The chart forms ‘Bearish Belt Hold’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.68016 |
| Next High | 1.67700 |
| Current Price | 1.66977 |
| Next Low | 1.66898 |
| 2nd Low | 1.66311 |
| 3rd Low | 1.66197 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Belt Hold