EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support at 1.62756 is considered certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.63528 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three Black Crows’ candle chart pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65429 |
| 2nd High | 1.64969 |
| Next High | 1.63528 |
| Current Price | 1.62819 |
| Next Low | 1.62756 |
| 2nd Low | 1.62621 |
| 3rd Low | 1.62549 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows