The pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline down.
A descending movement down to the next support at 1.62966 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.63528 should be noted.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Black Crows’ candle chart pattern is detected. The chart forms ‘Three Black Crows’. which is a negative chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.63576 |
2nd High | 1.63543 |
Next High | 1.63528 |
Current Price | 1.63080 |
Next Low | 1.62966 |
2nd Low | 1.62621 |
3rd Low | 1.62549 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows