EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards
A continuation of the downward movement down to the next support at 1.73858 is considered certain.
Caution: A possible change in the direction of resistance at 1.75754 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Inside Down’ candlestick pattern is found. The chart forms ‘Three Inside Down’. which is a negative signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Inside Down’ heading down is 60% (Bull Market) & 63% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.76719 |
| 2nd High | 1.75866 |
| Next High | 1.75754 |
| Current Price | 1.75251 |
| Next Low | 1.73858 |
| 2nd Low | 1.73686 |
| 3rd Low | 1.73668 |
1.75754 – 1.75312 – 1.75866 – 1.73858 – 1.74644 – 1.74843
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Inside Down