EUR/AUD – 1H – SELLThe combination jumps from the descending trendline down.
A continuation of the downtrend downwards to the next support level at 1.60040 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.61388 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.60622212 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the support zone at 1.61388 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62507 |
| 2nd High | 1.61856 |
| Next High | 1.61388 |
| Current Price | 1.61088 |
| Next Low | 1.60040 |
| 2nd Low | |
| 3rd Low |