EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps 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 1.62449 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke the Fibonacci 0-Level.Continuation of the current descending trend is likely expected. Current target is 1.61791032 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 1.62449 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Black Crows’ candlestick pattern is found. The candles form ‘Three Black Crows’. which is a negative signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63611 |
| 2nd High | 1.62792 |
| Next High | 1.62449 |
| Current Price | 1.62312 |
| Next Low | 1.61689 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows