EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline down.
A continuation of the downward movement down to the next support line at 1.78522 is likely expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.78991 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Support Level’ indicator signal is discovered. The indicator is ‘Support Level’. which is often a bearish signal. The pair is likely to go down.
Also there is a ‘Last Engulfing Top’ chart pattern is found. The chart forms ‘Last Engulfing Top’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Last Engulfing Top’ going down is 68% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.80819 |
| 2nd High | 1.79759 |
| Next High | 1.78991 |
| Current Price | 1.78624 |
| Next Low | 1.78522 |
| 2nd Low | 1.78331 |
| 3rd Low | 1.78112 |
1.78991 – 1.79759 – 1.80819 – 1.78522 – 1.78644 – 1.78872 — 48.562778454222 – 38.061590674863 — 59.561641910808 – 35.518000074841 – 69.397469650206 – 55.141493251777
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Last Engulfing Top – Inverse Head and Shoulder chart pattern – –