EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline down.
A continuation of the downward movement downwards to the next support at 1.66064 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.66641 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Inside Down’ chart pattern is existing. The chart shows ‘Three Inside Down’. 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 chance of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67440 |
| 2nd High | 1.67107 |
| Next High | 1.66641 |
| Current Price | 1.66224 |
| Next Low | 1.66064 |
| 2nd Low | 1.65839 |
| 3rd Low | 1.65777 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Inside Down