EUR/AUD – 30M – SELLThe combination Euro/Australian Dollar (EUR/AUD) moves from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 1.74308 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.75840 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 1.74308 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the support level at 1.75840 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Three Black Crows’ chart pattern is discovered. The chart shows ‘Three Black Crows’. this 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 success rate of a ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.76719 |
| 2nd High | 1.76294 |
| Next High | 1.75840 |
| Current Price | 1.74587 |
| Next Low | 1.74308 |
| 2nd Low | 1.73858 |
| 3rd Low | 1.73686 |
1.75840 – 1.75766 – 1.76294 – 1.74308 – 1.75223 – 1.75144
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows