EUR/AUD – 1H – SELL

Moreover a ‘Double bottom retreat down’ chart layout is found. The formation shows ‘Double bottom retreat down’. this is a bearish pattern signal. The currency pair is likely to fall.

The combination Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards

A bearish descent downwards to the next support at 1.77652 is likely expected.

Caution: A possible counter-trend in the direction of the resistance line at 1.78259 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Two Crows’ candle chart pattern is discovered. The candles form ‘Two Crows’. which 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 probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

1.78259 – 1.77666 – 1.76682 – 1.77652 – 1.76221 – 1.76018 — 61.988996009468 – 56.44932728557 — 90.524127925159 – 58.354646206309 – 89.554136803175 – 79.666833367795

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Two Crows – Double bottom retreat down – –