The currency pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline down.
A continuation of the downward movement down to the next support level at will persist.
Caution: A possible trend reversal in the direction of resistance at 1.64195 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Exponential Moving Average 200 (EMA 200)’ indicator signal is detected. The indicator shows ‘Exponential Moving Average 200 (EMA 200)’. which could be a negative signal. The currency pair is likely to fall.
Besides a ‘Bearish Engulfing’ candlestick chart pattern is existing. The candles form ‘Bearish Engulfing’. this is a bearish chart scenario. 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64625 |
| 2nd High | 1.64342 |
| Next High | 1.64195 |
| Current Price | 1.63807 |
| Next Low | |
| 2nd Low | |
| 3rd Low |
1.64195 – 1.64061 – 1.64342 – 1.63444 – 1.63223 – 1.63309 —
1.64005 – 1.63916 —
55.302856130819 – 49.833773785554 —
– —
1.64195 – 1784289600
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish Engulfing – – – – – – – – –