EUR/AUD – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.62621 at the Fibonacci level 1-Level. Caution: A possible change in the direction of the support line at 1.63611 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candlestick chart pattern is detected. The chart shows ‘Three Black Crows’. which is a bearish chart scenario. 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’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65282 |
| 2nd High | 1.64969 |
| Next High | 1.63611 |
| Current Price | 1.62726 |
| Next Low | 1.62621 |
| 2nd Low | 1.62549 |
| 3rd Low | 1.62383 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows