The pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the downtrend downwards to the next support at 1.77107 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.77673 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is found. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a negative chart scenario. The pair is likely to go down.
Moreover a ‘Three Outside Down’ candle pattern is discovered. The candles show ‘Three Outside Down’. 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 success rate of a ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).
Moreover a ‘Double top chart pattern’ chart formation is detected. The chart shows ‘Double top chart pattern’. which is a negative signal. The pair is likely to go down.
Moreover a ‘Support Level’ indicator layout is found. The indicator is ‘Support Level’. which is often a bearish chart signal. The currency pair could go down.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.78170 |
2nd High | 1.77943 |
Next High | 1.77673 |
Current Price | 1.77397 |
Next Low | 1.77107 |
2nd Low | 1.76501 |
3rd Low | 1.73686 |
1.77673 – 1.77943 – 1.78170 – 1.77107 – 1.77240 – 1.77526
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down