EUR/AUD – 1H – SELL

The currency pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline down.

A continuation of the bearish trend down to the next support level at 1.63504 is likely expected.

Caution: A possible change in the direction of the resistance zone at 1.65392 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Three Outside Down’ candle pattern is discovered. The candles form ‘Three Outside Down’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down