EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support line at 1.61583 is certain.
Caution: A possible counter-trend in the direction of the resistance level at 1.62524 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. this is a bearish chart scenario. The currency pair is likely to fall. 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 | 1.63070 |
| Next High | 1.62524 |
| Current Price | 1.62096 |
| Next Low | 1.61583 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows