EUR/AUD – 4H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) breaks through the ascending trendline up.
A continuation of the bullish trend up to the next resistance at will continue.
Caution: A possible counter-trend in the direction of the support zone at 1.63613 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish 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 | |
| 2nd High | |
| Next High | |
| Current Price | 1.66749 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers