EUR/AUD – 30M – SELL

The combination Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards

A continuation of the bearish trend down to the next support line at 1.64849 is considered certain.

Caution: A possible counter-trend in the direction of the resistance level at 1.65767 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Current target is 1.646355 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 1.65767 could happen.
In case of a trade, appropriate stop-loss settings should be considered.

Furthermore a ‘Three Outside Down’ candle chart pattern is existing. The candles form ‘Three Outside Down’. which is a bearish 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’ heading down is 69% (Bull Market) & 70% (Bear Market).

Download EUR/AUD Signal Image

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