EUR/AUD – 4H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
The bearish trend downwards to the next support at 1.64894 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.68016 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Bearish Harami’ chart pattern is existing. The candles show ‘Bearish Harami’. 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 likelyhood of ‘Bearish Harami’ going down is 53% (Bull Market) & 50% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.65989 |
| Next Low | 1.64894 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Harami