EUR/AUD – 1H – SELL

The pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards

A continuation of the bearish trend downwards to the next support line at 1.78849 will continue.

Caution: A possible change in the direction of the resistance line at 1.79629 is within the realm of possibility.
Consider stop-loss settings accordingly.

Besides a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which could be a negative signal. The currency pair could go down.

Besides a ‘Three Inside Down’ candlestick pattern is found. The chart forms ‘Three Inside Down’. which is a bearish pattern signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Inside Down’ going down is 60% (Bull Market) & 63% (Bear Market).

1.79629 – 1.79735 – 1.79641 – 1.78849 – 1.78332 – 1.78367

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Inside Down – Head and Shoulder chart pattern