EUR/AUD – 30M – BUY

The pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.

A bearish trend down to the next support level at 1.66311 is likely expected.

Caution: A possible change in the direction of the resistance line at 1.68016 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Three Outside Down’ candlestick chart pattern is detected. The chart forms ‘Three Outside Down’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘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