EUR/AUD – 1H – SELL

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

A continuation of the downward movement down to the next support at 1.68932 is expected.

Caution: A possible trend reversal in the direction of the resistance zone at 1.71023 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bullish trend broke through the Fibonacci 0.5-Level.Continuation of the current descending trend is expected. Current target is 1.6966067 at the Fibonacci level 0.79-Level. Caution: A possible trend reversal in the direction of the support level at 1.71023 could occur.
Please make appropriate stop-loss settings in the case of a trade.

Moreover a ‘Two Crows’ candlestick chart pattern is detected. The chart forms ‘Two Crows’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Two Crows’ going down is 54% (Bull Market) & 58% (Bear Market).

1.71023 – 1.72337 – 1.7194 – 1.68932 – 1.71419 – 1.711 —
1.70632 – 1.70764 —
52.949169015324 – 59.641188178132 —
– —
1.71023 – 1769706000

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Two Crows – Double bottom chart pattern – – – – – – – –