EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support at 1.65080 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.67107 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Two Crows’ candle chart pattern is existing. The candles show ‘Two Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67762 |
| 2nd High | 1.67440 |
| Next High | 1.67107 |
| Current Price | 1.65740 |
| Next Low | 1.65080 |
| 2nd Low | 1.64894 |
| 3rd Low | 1.64864 |