EUR/AUD – 4H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 1.63613 will continue.
Caution: A possible change in the direction of the resistance line at 1.68016 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.66173 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows