EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline downwards
A descent down to the next support level at 1.61689 will persist.
Caution: A possible change in the direction of the resistance line at 1.63070 could occur.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.613655 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the support line at 1.63070 could occur.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ candle pattern is detected. The chart forms ‘Three Black Crows’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64969 |
| 2nd High | 1.63611 |
| Next High | 1.63070 |
| Current Price | 1.62090 |
| Next Low | 1.61689 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows