EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
A bullish trend upwards to the next resistance at 1.65767 is considered certain.
Caution: A possible reversal of the trend in the direction of support at 1.64748 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.65767 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance line at 1.65767 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Besides a ‘Three White Soldiers’ candle chart pattern is found. The chart shows ‘Three White Soldiers’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65767 |
| Current Price | 1.65395 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers