EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A descending movement downwards to the next support line at 1.64748 is certain.
Caution: A possible change in the direction of the resistance zone at 1.67762 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Tweezers Top’ candle chart pattern is existing. The candles show ‘Tweezers Top’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.68016 |
| Next High | 1.67762 |
| Current Price | 1.65237 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Top