EUR/AUD – 1H – SELLIn addition a ‘Double bottom retreat down’ chart layout is detected. The chart picture shows ‘Double bottom retreat down’. which is a bearish pattern signal. The currency pair is likely to go down.
The combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A bearish descent down to the next support at 1.77652 will persist.
Caution: A possible change in the direction of resistance at 1.78259 could happen.
Consider stop-loss settings accordingly.
In addition a ‘Two Crows’ candlestick chart pattern is discovered. The chart forms ‘Two Crows’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78991 |
| 2nd High | 1.78759 |
| Next High | 1.78259 |
| Current Price | 1.78181 |
| Next Low | 1.77652 |
| 2nd Low | 1.76221 |
| 3rd Low | 1.76018 |
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 – –