EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline downwards
A descent down to the next support level at 1.62756 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.63611 could happen.
Consider stop-loss settings accordingly.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Target of the current trend is 1.6308 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of support at 1.63611 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Three Black Crows’ chart pattern is detected. The chart forms ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65282 |
| 2nd High | 1.64969 |
| Next High | 1.63611 |
| Current Price | 1.63112 |
| Next Low | 1.62756 |
| 2nd Low | 1.62621 |
| 3rd Low | 1.62549 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows