EUR/AUD – 4H – SELLThe pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards
A descending movement downwards to the next support line at 1.64894 is expected.
Caution: A possible change in the direction of the resistance line at 1.68016 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Inside Down’ candlestick pattern is existing. The candles show ‘Three Inside Down’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.66224 |
| Next Low | 1.64894 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Inside Down