EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.62081 is expected.
Caution: A possible reversal of the trend in the direction of the resistance zone at 1.62792 could occur.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Line Strike – Bearish’ candlestick pattern is discovered. The candles form ‘Three Line Strike – Bearish’. which is a negative pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Line Strike – Bearish’ heading down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63611 |
| 2nd High | 1.62998 |
| Next High | 1.62792 |
| Current Price | 1.62240 |
| Next Low | 1.62081 |
| 2nd Low | 1.62029 |
| 3rd Low | 1.61911 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Line Strike – Bearish