EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
A bearish movement down to the next support line at 1.71421 is likely expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.72479 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is likely expected. Current target is 1.71698986 at the Fibonacci level 0.79-Level. Caution: A possible counter-trend in the direction of the support zone at 1.72479 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is detected. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish chart signal. The currency pair could go down.
Moreover a ‘Two Crows’ candle chart pattern is existing. The chart shows ‘Two Crows’. which is a bearish pattern signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two Crows’ heading down is 54% (Bull Market) & 58% (Bear Market).
Moreover a ‘Double top chart pattern’ chart pattern is discovered. The chart forms ‘Double top chart pattern’. which is a bearish pattern signal. The currency pair is likely to fall.
Moreover a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. this is usually a bearish signal. The currency pair is likely to fall.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.72969 |
| 2nd High | 1.72720 |
| Next High | 1.72479 |
| Current Price | 1.71846 |
| Next Low | 1.71421 |
| 2nd Low | 1.70852 |
| 3rd Low | 1.70851 |
1.72479 – 1.72720 – 1.72379 – 1.72111 – 1.71963 – 1.72030