EUR/AUD – 1H – SELL

Besides a ‘Double bottom retreat down’ chart pattern is found. The chart forms ‘Double bottom retreat down’. which is a negative signal. The currency pair is likely to go down.

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

A bearish descent down to the next support line at 1.73064 is considered certain.

Caution: A possible trend reversal in the direction of the resistance line at 1.73979 could be enabled.
Consider stop-loss settings accordingly.

Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend is considered certain. Target of the current trend is 1.737735 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 1.73979 could be enabled.
Consider stop-loss settings accordingly.

Besides a ‘Three Outside Down’ candle chart pattern is detected. The candles form ‘Three Outside Down’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Down’ going down is 69% (Bull Market) & 70% (Bear Market).

1.73979 – 1.74559 – 1.74562 – 1.73064 – 1.72985 – 1.7379 —
1.73371 – 1.74663 —
44.926879719146 – 73.952180419891 —
– —
1.73979 – 1768791600

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Down – Double bottom retreat down – – – – – – – –