EUR/AUD – 30M – SELL

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

A continuation of the downtrend downwards to the next support line at 1.63792 is expected.

Caution: A possible trend reversal in the direction of the resistance line at 1.64287 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which is often a bearish signal. The currency pair could go down.

Besides a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.

Correction of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.6367 at the Fibonacci level 1-Level. Caution: A possible trend reversal in the direction of support at 1.64287 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Besides a ‘On Neck’ candlestick chart pattern is detected. The candles form ‘On Neck’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

1.64287 – 1.64496 – 1.64628 – 1.63792 – 1.6367 – 1.6414 —
1.64180 – 1.64226 —
57.050665837702 – 52.600441279488 —
– —
1.64287 – 1781481600

Trading Signals: FOREX – EUR – EUR/AUD – AUD – On Neck – – – – – – – – –