Correction of the major bullish trend broke through the Fibonacci 0.79-Level.Continuation of the current descending trend is likely expected. Current target is 1.76997 at the Fibonacci level 1-Level. Caution: A possible reversal of the trend in the direction of the support line at 1.78820 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Three Black Crows’ candle chart pattern is existing. The candles form ‘Three Black Crows’. which is a bearish chart scenario. 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%.
Moreover a ‘Double top chart pattern’ chart formation is found. The chart forms ‘Double top chart pattern’. this is a bearish pattern signal. The currency pair is likely to go down.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.79828 |
2nd High | 1.78876 |
Next High | 1.78820 |
Current Price | 1.77200 |
Next Low | 1.76997 |
2nd Low | 1.76501 |
3rd Low | 1.73686 |
1.78820 – 1.78876 – 1.77673 – 1.77223 – 1.76997 – 1.77107
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows