EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the descending trendline down.
A continuation of the bearish trend downwards to the next support level at 1.65662 is likely expected.
Caution: A possible change in the direction of the resistance zone at 1.67762 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Black Crows’ candlestick chart pattern is detected. The candles form ‘Three Black Crows’. this is a bearish chart scenario. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.68016 |
| Next High | 1.67762 |
| Current Price | 1.66140 |
| Next Low | 1.65662 |
| 2nd Low | 1.64748 |
| 3rd Low | 1.63613 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows