EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance level at 1.65604 will persist.
Caution: A possible counter-trend in the direction of the support level at 1.63504 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three White Soldiers’ chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65604 |
| Current Price | 1.64451 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers