EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline down.
A continuation of the downward movement down to the next support level at 1.76632 is likely expected.
Caution: A possible change in the direction of the resistance zone at 1.77512 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Collapsing Doji Star’ candlestick chart pattern is existing. The candles show ‘Collapsing Doji Star’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Collapsing Doji Star’ heading down is 63% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78228 |
| 2nd High | 1.77565 |
| Next High | 1.77512 |
| Current Price | 1.77158 |
| Next Low | 1.76632 |
| 2nd Low | 1.75118 |
| 3rd Low | 1.74973 |
1.77512 – 1.77565 – 1.78228 – 1.76632 – 1.76883 – 1.77355
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Collapsing Doji Star