EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bearish trendline downwards
A continuation of the downtrend downwards to the next support level at 1.61882 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.62324 is within the realm of possibility.
Consider stop-loss settings accordingly.
There is also a ‘Three Black Crows’ chart pattern is discovered. The candles show ‘Three Black Crows’. this is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62743 |
| 2nd High | 1.62524 |
| Next High | 1.62324 |
| Current Price | 1.61645 |
| Next Low | 1.61882 |
| 2nd Low | 1.61689 |
| 3rd Low | 1.61260 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows