EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the ascending trendline up.
A continuation of the bullish trend upwards to the next resistance level at 1.67149 is considered certain.
Caution: A possible reversal of the trend in the direction of the support zone at 1.65662 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The candles show ‘Bullish Engulfing’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.67149 |
| Current Price | 1.66748 |
| Next Low | 1.65662 |
| 2nd Low | 1.64748 |
| 3rd Low | 1.63613 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing