EUR/AUD – 1H – SELL

The combination Euro/Australian Dollar (EUR/AUD) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support level at 1.66229 is expected.

Caution: A possible counter-trend in the direction of resistance at 1.68309 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Furthermore a ‘Three Outside Down’ candlestick chart pattern is discovered. The candles form ‘Three Outside 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 chance of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.68309 – 1.68542 – 1.69046 – 1.66229 – 1.66338 – 1.67103 —
1.67962 – 1.67427 —
52.581011302265 – 42.996416251854 —
– —
1.68309 – 1770998400

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down – Double bottom chart pattern – – – – – – – –