EUR/AUD – 30M – SELL

The pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.

A descending movement downwards to the next support level at 1.711 will persist.

Caution: A possible counter-trend in the direction of the resistance line at 1.71927 is within the realm of possibility.
Consider stop-loss settings accordingly.

Next a ‘Resistance Level’ indicator signal is discovered. The indicator shows ‘Resistance Level’. which is often a bearish chart scenario. The currency pair is likely to fall.

Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.71554 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support line at 1.71927 is within the realm of possibility.
Consider stop-loss settings accordingly.

Next a ‘Three Outside Down’ candlestick pattern is discovered. The candles form ‘Three Outside Down’. this is a bearish signal. The 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).

1.71927 – 1.71678 – 1.71924 – 1.711 – 1.71109 – 1.70989 —
1.71772 – 1.71940 —
59.611832139832 – 66.532495199445 —
– —
1.71927 – 1769389200

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down – Double bottom chart pattern – – – – – – – –