EUR/AUD – 4H – SELL

The pair Euro/Australian Dollar (EUR/AUD) goes from the descending trendline downwards

A continuation of the downtrend downwards to the next support at 1.75635 is likely expected.

Caution: A possible trend reversal in the direction of the resistance zone at 1.77632 could happen.
Please make appropriate stop-loss settings in the case of a trade.

Furthermore a ‘Three Outside Down’ chart pattern is detected. The chart forms ‘Three Outside Down’. 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 likelyhood of ‘Three Outside Down’ heading down is 69% (Bull Market) & 70% (Bear Market).

1.77632 – 1.79771 – 1.79358 – 1.76895 – 1.77411 – 1.76297 —
1.76964 – 1.76291 —
35.38924910982 – 29.124856328381 —
– —
1.77632 – 1764590400

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down – Double top chart pattern – – – – – – – –