EUR/AUD – 30M – BUY

The pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards

A descending movement down to the next support line at 1.65803 will continue.

Caution: A possible change in the direction of the resistance level at 1.67149 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 1.660065 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of support at 1.67149 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

There is also a ‘Three Outside Down’ candlestick chart pattern is existing. The candles form ‘Three Outside Down’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down