The currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
The bearish trend downwards to the next support at 1.66040 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.66684 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.662775 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 1.66684 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Black Crows’ candle pattern is found. The chart shows ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ going down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.67149 |
2nd High | 1.67046 |
Next High | 1.66684 |
Current Price | 1.66372 |
Next Low | 1.66040 |
2nd Low | 1.65662 |
3rd Low | 1.65406 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows