EUR/AUD – 30M – SELLFurthermore a ‘Head and Shoulder chart pattern’ chart formation is detected. The chart shows ‘Head and Shoulder chart pattern’. which is a bearish chart scenario. The pair is likely to go down.
The combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A bearish movement downwards to the next support level at 1.77703 is expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.78669 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Tweezers Top’ candlestick chart pattern is found. The chart shows ‘Tweezers Top’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79358 |
| 2nd High | 1.7884 |
| Next High | 1.78669 |
| Current Price | 1.77724 |
| Next Low | 1.77703 |
| 2nd Low | 1.76297 |
| 3rd Low | 1.76003 |
1.78669 – 1.7884 – 1.78811 – 1.77962 – 1.77703 – 1.76297 —
1.77877 – 1.77736 —
36.471304225351 – 39.637009423078 —
– —
1.78669 – 1763580600
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Top – Head and Shoulder chart pattern – – – –