EUR/AUD – 1H – BUY

The combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards

A continuation of the downtrend down to the next support level at 1.77609 is certain.

Caution: A possible change in the direction of the resistance zone at 1.80162 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.77609 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support zone at 1.80162 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.

Next a ‘Exponential Moving Average 200 (EMA 200)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 200 (EMA 200)’. this is usually a bearish signal. The pair is likely to go down.

Next a ‘On Neck’ candlestick pattern is discovered. The chart forms ‘On Neck’. this is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

Next a ‘Support Level’ indicator signal is existing. The indicator is ‘Support Level’. this is usually a bearish signal. The currency pair is likely to fall.

1.80162 – 1.79394 – 1.79429 – 1.78910 – 1.78982 – 1.77609

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – On Neck