EUR/AUD – 4H – SELLThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A descent downwards to the next support level at 1.63613 will continue.
Caution: A possible change in the direction of the resistance line at 1.67087 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Three Black Crows’ candle pattern is discovered. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.67149 |
| Next High | 1.67087 |
| Current Price | 1.67064 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows