EUR/AUD – 30M – SELLCorrection of the major bullish trend broke the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Target of the current trend is 1.6667587 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support level at 1.68016 should be noted.
Consider stop-loss settings accordingly.
Furthermore a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. which is a bearish pattern 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 | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.66989 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.66040 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows