The pair Euro/Australian Dollar (EUR/AUD) goes from the descending trendline down.
A continuation of the downward movement down to the next support at 1.63444 will continue.
Caution: A possible change in the direction of the resistance level at 1.64061 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bearish Engulfing’ candle pattern is found. The candles form ‘Bearish Engulfing’. which is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish Engulfing’ going down is 79%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64625 |
| 2nd High | 1.64342 |
| Next High | 1.64061 |
| Current Price | 1.63797 |
| Next Low | 1.63444 |
| 2nd Low | 1.63223 |
| 3rd Low | 1.63027 |
1.64061 – 1.64342 – 1.64625 – 1.63444 – 1.63223 – 1.63309 —
1.63898 – 1.63951 —
69.70434023259 – 56.559605009512 —
– —
1.64061 – 1784174400
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – – – – – – – – –