EUR/AUD – 4H – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A descending movement down to the next support level at 1.64894 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.68016 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Bearish Belt Hold’ candle chart pattern is existing. The chart shows ‘Bearish Belt Hold’. this is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bearish Belt Hold’ heading down is 68% (Bull Market) & 69% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.65557 |
| Next Low | 1.64894 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Belt Hold