EUR/AUD – 4H – BUYCorrection of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.66229 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.68309 could happen.
Consider stop-loss settings accordingly.
Moreover a ‘Dark Cloud Cover’ candlestick pattern is detected. The chart forms ‘Dark Cloud Cover’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Dark Cloud Cover’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.71465 |
| 2nd High | 1.70628 |
| Next High | 1.68309 |
| Current Price | 1.67327 |
| Next Low | 1.66229 |
| 2nd Low | 1.6357 |
| 3rd Low | 1.63504 |
1.68309 – 1.70628 – 1.71465 – 1.66229 – 1.67613 – 1.68932 —
1.67638 – 1.68020 —
45.288155768497 – 48.667232482188 —
– —
1.68309 – 1770998400
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Dark Cloud Cover – Double bottom retreat down – – – – – – – –