EUR/AUD – 30M – SELLThe pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A bearish descent down to the next support at 1.711 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.71927 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘StochRSI %K line crosses below %D line’ indicator layout is found. The indicator is ‘StochRSI %K line crosses below %D line’. which could be a negative chart scenario. The pair is likely to go down.
Besides a ‘Resistance Level’ indicator layout is detected. The indicator is ‘Resistance Level’. which is often a bearish chart signal. The pair is likely to go down.
Correction of the major bullish trend broke the Fibonacci 0.24-Level.Continuation of the current descending trend will persist. Current target is 1.71554 at the Fibonacci level 0.5-Level. Caution: A possible counter-trend in the direction of the support level at 1.71927 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Two Crows’ candlestick pattern is discovered. The chart shows ‘Two Crows’. which is a negative pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.74224 |
| 2nd High | 1.72119 |
| Next High | 1.71927 |
| Current Price | 1.71740 |
| Next Low | 1.711 |
| 2nd Low | 1.70989 |
| 3rd Low | 1.70527 |
1.71927 – 1.71678 – 1.71924 – 1.711 – 1.71109 – 1.70989 —
1.71535 – 1.71858 —
55.861110369334 – 66.630161798093 —
– —
1.71927 – 1769389200
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Two Crows – Double bottom chart pattern – – – – – – – –