EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
A descent down to the next support level at 1.65407 is expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.66514 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ candlestick pattern is existing. The candles form ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. 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 | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66514 |
| Current Price | 1.65951 |
| Next Low | 1.65407 |
| 2nd Low | 1.65222 |
| 3rd Low | 1.65080 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows