EUR/AUD – 30M – SELL

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

A continuation of the downward movement downwards to the next support line at 1.62383 is likely expected.

Caution: A possible counter-trend in the direction of the resistance zone at 1.62850 could be enabled.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.62609044 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of support at 1.62850 could be enabled.
Consider stop-loss settings accordingly.

Next a ‘Three Black Crows’ chart pattern is existing. The candles show ‘Three Black Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.

Download EUR/AUD Signal Image

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