EUR/AUD – 1H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
A bearish trend downwards to the next support level at 1.66386 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.67049 is also possible.
Consider stop-loss settings accordingly.
Then a ‘Three Black Crows’ candlestick pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish pattern signal. The 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 | 1.67149 |
| 2nd High | 1.67087 |
| Next High | 1.67049 |
| Current Price | 1.66622 |
| Next Low | 1.66386 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows