EUR/AUD – 30M – SELL

The currency pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline down.

A bearish descent downwards to the next support level at 1.69413 is certain.

Caution: A possible trend reversal in the direction of the resistance level at 1.7108 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Resistance Level’ indicator signal is discovered. The indicator is ‘Resistance Level’. which is often a bearish signal. The currency pair is likely to fall.

Correction of the major bearish trend halted around the Fibonacci 1-Level.Continuation of the current descending trend is certain. Current target is 1.70620328 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support zone at 1.7108 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Bearish Engulfing’ chart pattern is existing. The candles form ‘Bearish Engulfing’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ going down is 79%.

1.7108 – 1.70846 – 1.70764 – 1.69413 – 1.69631 – 1.68932 —
1.70596 – 1.70995 —
51.617901794118 – 63.314468249295 —
– —
1.71080 – 1769994000

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – Head and Shoulder chart pattern – – – – – – – –