EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A bearish movement downwards to the next support at 1.66898 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.67700 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Bearish Engulfing’ chart pattern is found. The chart forms ‘Bearish Engulfing’. this is a bearish 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 | 1.68016 |
| Next High | 1.67700 |
| Current Price | 1.67302 |
| Next Low | 1.66898 |
| 2nd Low | 1.66311 |
| 3rd Low | 1.66197 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing