Also there is a ‘Support Level’ indicator layout is detected. The indicator shows ‘Support Level’. which is often a bearish chart signal. The pair is likely to go down.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend is likely expected. Target of the current trend is 1.73553 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of support at 1.74559 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Tweezers Top’ chart pattern is existing. The candles form ‘Tweezers Top’. this is a bearish signal. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Tweezers Top’ heading down is 56% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.74741 |
| 2nd High | 1.74562 |
| Next High | 1.74559 |
| Current Price | 1.73698 |
| Next Low | 1.73553 |
| 2nd Low | 1.73325 |
| 3rd Low | 1.72907 |
1.74559 – 1.74562 – 1.74449 – 1.74068 – 1.7379 – 1.73553 —
1.74274 – 1.73791 —
40.601575108633 – 33.023764763634 —
– —
1.74559 – 1768455000
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Top – – – – – – – – –