EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A bearish descent downwards to the next support at 1.61689 is likely expected.
Caution: A possible trend reversal in the direction of the resistance line at 1.62792 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candle pattern is found. The chart shows ‘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 probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64969 |
| 2nd High | 1.63611 |
| Next High | 1.62792 |
| Current Price | 1.62593 |
| Next Low | 1.61689 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows