EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline down.
The bearish trend downwards to the next support level at 1.62621 will continue.
Caution: A possible trend reversal in the direction of the resistance line at 1.63109 is within the realm of possibility.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0-Level.Continuation of the current descending trend will continue. Current target is 1.6280692 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 1.63109 is within the realm of possibility.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ candle chart pattern is existing. The chart shows ‘Three Black Crows’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65429 |
| 2nd High | 1.64969 |
| Next High | 1.63109 |
| Current Price | 1.63077 |
| Next Low | 1.62621 |
| 2nd Low | 1.62549 |
| 3rd Low | 1.62029 |