EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 1.61689 will persist.
Caution: A possible counter-trend in the direction of the resistance zone at 1.63070 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Line Strike – Bearish’ chart pattern is found. The candles form ‘Three Line Strike – Bearish’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Line Strike – Bearish’ going down is 84% (Bull Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64969 |
| 2nd High | 1.63611 |
| Next High | 1.63070 |
| Current Price | 1.62039 |
| Next Low | 1.61689 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Line Strike – Bearish