EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support line at 1.75291 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.76222 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is existing. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart scenario. The currency pair is likely to fall.
Next a ‘Last Engulfing Top’ candle chart pattern is discovered. The chart forms ‘Last Engulfing Top’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ heading down is 68% (Bull Market) & 67% (Bear Market).
Next a ‘Resistance Level’ indicator layout is discovered. The indicator shows ‘Resistance Level’. this is usually a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78820 |
| 2nd High | 1.77520 |
| Next High | 1.76222 |
| Current Price | 1.75937 |
| Next Low | 1.75291 |
| 2nd Low | 1.73858 |
| 3rd Low | 1.71120 |
1.76222 – 1.75754 – 1.77520 – 1.75291 – 1.73858 – 1.74624
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Top