EUR/AUD – 30M – SELLBesides a ‘Double top retreat up’ chart layout is existing. The chart shows ‘Double top retreat up’. this is a bullish chart scenario. The currency pair is likely to go up.
The currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A bearish trend down to the next support level at 1.75118 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.77565 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three Black Crows’ chart pattern is existing. The candles form ‘Three Black Crows’. which is a negative signal. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Black Crows’ heading down is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78401 |
| 2nd High | 1.78228 |
| Next High | 1.77565 |
| Current Price | 1.76696 |
| Next Low | 1.75118 |
| 2nd Low | 1.74973 |
| 3rd Low | 1.74614 |
1.77565 – 1.78228 – 1.78401 – 1.76883 – 1.77355 – 1.77220
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows