EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) breaks through the ascending trendline up.
A continuation of the uptrend upwards to the next resistance at 1.65767 is expected.
Caution: A possible change in the direction of support at 1.64748 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Moreover a ‘Three White Soldiers’ candle pattern is found. The candles form ‘Three White Soldiers’. which is a positive signal. The currency pair is likely to rise. 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 | 1.65767 |
| Current Price | 1.66361 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers