EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline downwards
A bearish descent downwards to the next support level at 1.65339 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.66163 could happen.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish Meeting Lines’ chart pattern is found. The candles show ‘Bearish Meeting Lines’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Meeting Lines’ heading down is 51% (Bull Market) & 53% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.66790 |
| 2nd High | 1.66533 |
| Next High | 1.66163 |
| Current Price | 1.66048 |
| Next Low | 1.65339 |
| 2nd Low | 1.65222 |
| 3rd Low | 1.65080 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Meeting Lines