EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support line at 1.63504 is considered certain.
Caution: A possible change in the direction of resistance at 1.65392 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Outside Down’ candle pattern is detected. The candles show ‘Three Outside Down’. 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 likelyhood of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65604 |
| Next High | 1.65392 |
| Current Price | 1.64568 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down