EUR/AUD – 4H – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline downwards
A bearish movement downwards to the next support level at 1.63613 is likely expected.
Caution: A possible trend reversal in the direction of resistance at should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Two Crows’ candlestick pattern is detected. The chart forms ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.67452 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |