EUR/AUD – 1H – SELLThe pair Euro/Australian Dollar (EUR/AUD) goes from the descending trendline down.
A continuation of the downward movement down to the next support level at 1.77282 is certain.
Caution: A possible counter-trend in the direction of the resistance line at 1.78759 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three Black Crows’ candle pattern is found. The chart forms ‘Three Black Crows’. which is a bearish pattern signal. 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%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79759 |
| 2nd High | 1.78991 |
| Next High | 1.78759 |
| Current Price | 1.77402 |
| Next Low | 1.77282 |
| 2nd Low | 1.7626 |
| 3rd Low | 1.74973 |
1.78759 – 1.78991 – 1.79759 – 1.77854 – 1.78136 – 1.77991 — 27.779044363228 – 24.298166999249 — 26.555581004734 – 8.195907772179 – 51.711457219932 – 30.075838550415
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Black Crows – – –