EUR/AUD – 30M – SELL

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

A descent downwards to the next support at 1.66613 is expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.67440 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Down’ chart pattern is detected. The candles form ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood 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