EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
A descending movement downwards to the next support level at 1.65407 will persist.
Caution: A possible change in the direction of the resistance line at 1.67107 could occur.
Consider stop-loss settings accordingly.
Besides a ‘Bearish Engulfing’ candlestick pattern is found. The candles form ‘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’ heading down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67762 |
| 2nd High | 1.67440 |
| Next High | 1.67107 |
| Current Price | 1.66348 |
| Next Low | 1.65407 |
| 2nd Low | 1.65222 |
| 3rd Low | 1.65080 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing