EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline down.
A continuation of the downtrend down to the next support at 1.61957 is considered certain.
Caution: A possible change in the direction of resistance at 1.63611 is also possible.
Consider stop-loss settings accordingly.
In addition a ‘Three Line Strike – Bearish’ candle pattern is found. The chart forms ‘Three Line Strike – Bearish’. this is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65429 |
| 2nd High | 1.64969 |
| Next High | 1.63611 |
| Current Price | 1.63599 |
| Next Low | 1.61957 |
| 2nd Low | 1.61685 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Line Strike – Bearish