And also a ‘Support Level’ indicator layout is discovered. The indicator shows ‘Support Level’. this is usually a bearish signal. The currency pair is likely to fall.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.622785 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 1.63275 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Outside Down’ candle chart pattern is existing. The chart shows ‘Three Outside Down’. this is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65157 |
| 2nd High | 1.64582 |
| Next High | 1.63275 |
| Current Price | 1.62672 |
| Next Low | 1.62509 |
| 2nd Low | 1.61356 |
| 3rd Low | 1.61282 |
1.63275 – 1.62939 – 1.62802 – 1.62509 – 1.61356 – 1.61282 —
1.63257 – 1.62926 —
67.814303774495 – 52.234088363313 —
– —
1.63275 – 1773394200
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down – – – – – – – – –