EUR/AUD – 1H – SELLAnd also a ‘Double top chart pattern’ chart layout is existing. The chart shows ‘Double top chart pattern’. which is a bearish pattern signal. The currency pair is likely to fall.
The combination Euro/Australian Dollar (EUR/AUD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 1.79083 is expected.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.79759 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Northern Doji’ candle pattern is detected. The chart forms ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.81566 |
| 2nd High | 1.80819 |
| Next High | 1.79759 |
| Current Price | 1.79044 |
| Next Low | 1.79083 |
| 2nd Low | 1.78331 |
| 3rd Low | 1.78112 |
1.79759 – 1.80819 – 1.81566 – 1.79083 – 1.80281 – 1.80950 — 40.632261350692 – 35.461840279807 — 20.757981692342 – 13.711207858897 – 25.907940760586 – 20.095631465357
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Double top chart pattern – –