EUR/AUD – 30M – SELL

The pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.

The bearish trend down to the next support at 1.62090 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 1.62499 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.622487 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support level at 1.62499 is also possible.
In the case of a trade, always set appropriate stop-loss settings.

And also a ‘Bullish Abandoned Baby’ candlestick pattern is existing. The chart forms ‘Bullish Abandoned Baby’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Abandoned Baby’ going up is 70% (Bull Market) & 55% (Bear Market).

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Abandoned Baby