EUR/AUD – 4H – SELL

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

A continuation of the downward movement downwards to the next support level at 1.62891 is likely expected.

Caution: A possible trend reversal in the direction of resistance at 1.64243 is within the realm of possibility.
Consider stop-loss settings accordingly.

There is also a ‘Bearish Engulfing’ candle chart pattern is found. The chart shows ‘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 chance of ‘Bearish Engulfing’ heading down is 79%.

1.64243 – 1.64182 – 1.64803 – 1.62891 – 1.63424 – 1.63942 —
1.64071 – 1.63226 —
57.455299728453 – 44.345052662365 —
– —
1.64243 – 1777492800

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