EUR/AUD – 1H – SELL

Besides a ‘Rising Wedge Chart Pattern’ chart layout is detected. The formation shows ‘Rising Wedge Chart Pattern’. which is a negative pattern signal. The pair is likely to go down.

The combination Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards

A bearish movement down to the next support line at 1.66826 is certain.

Caution: A possible change in the direction of the resistance zone at 1.68458 should always be considered.
Consider stop-loss settings accordingly.

Besides a ‘Bearish Engulfing’ candlestick pattern is existing. The chart forms ‘Bearish Engulfing’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish Engulfing’ heading down is 79%.

1.68458 – 1.68052 – 1.67781 – 1.66826 – 1.66973 – 1.66892 —
1.68458 – 1.67487 —
66.57603936849 – 47.620248896552 —
1.68458 – 1774976400 —
– 1774976400

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – Rising Wedge Chart Pattern – – – – – – – –