EUR/AUD – 30M – SELL

The pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline downwards

A continuation of the downtrend down to the next support level at is expected.

Caution: A possible change in the direction of the resistance level at 1.63166 should be noted.
Please make appropriate stop-loss settings in the case of a trade.

Besides a ‘Bearish Engulfing’ candle chart pattern is found. The candles form ‘Bearish Engulfing’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish Engulfing’ going down is 79%.

1.63166 – 1.64582 – 1.65157 – 1.62683 – 1.64116 – 1.64244 —
1.62349 – 1.62237 —
24.851825852128 – 31.251661960704 —
– —
1.63166 – 1773183600

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – – – – – – – – –