EUR/AUD – 1H – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bearish trendline downwards
A continuation of the bearish trend down to the next support at 1.61336 is likely expected.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.62366 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Three Black Crows’ candlestick pattern is existing. The candles form ‘Three Black Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63611 |
| 2nd High | 1.62792 |
| Next High | 1.62366 |
| Current Price | 1.60709 |
| Next Low | 1.61336 |
| 2nd Low | 1.61096 |
| 3rd Low | 1.60989 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows