EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards
A continuation of the bearish trend downwards to the next support level at 1.61957 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.63924 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Black Crows’ candlestick pattern is detected. The chart forms ‘Three Black Crows’. which is a bearish signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Black Crows’ going down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65282 |
| 2nd High | 1.64969 |
| Next High | 1.63924 |
| Current Price | 1.63519 |
| Next Low | 1.61957 |
| 2nd Low | 1.61685 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows