EUR/AUD – 30M – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline down.
A continuation of the downtrend downwards to the next support level at 1.60606 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.62366 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. 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 | 1.62998 |
| 2nd High | 1.62792 |
| Next High | 1.62366 |
| Current Price | 1.60509 |
| Next Low | 1.60606 |
| 2nd Low | 1.60512 |
| 3rd Low | 1.60204 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows