EUR/AUD – 1H – BUY

The combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline down.

A continuation of the downward movement downwards to the next support at is likely expected.

Caution: A possible trend reversal in the direction of the resistance level at 1.78691 is also possible.
Consider stop-loss settings accordingly.

There is also a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is found. The indicator shows ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative signal. The pair is likely to go down.

There is also a ‘Three Outside Down’ candlestick pattern is detected. The candles form ‘Three Outside Down’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.78691 – 1.79828 – 1.80162 – 1.76501 – 1.76616 – 1.78910

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down