EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A descending movement downwards to the next support level at 1.64864 is expected.
Caution: A possible trend reversal in the direction of the resistance line at 1.65767 could happen.
Consider stop-loss settings accordingly.
Besides a ‘On Neck’ chart pattern is detected. The chart forms ‘On Neck’. which is a negative chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65767 |
| Current Price | 1.65298 |
| Next Low | 1.64864 |
| 2nd Low | 1.64843 |
| 3rd Low | 1.64748 |