EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A bearish descent downwards to the next support level at 1.65662 will persist.
Caution: A possible counter-trend in the direction of the resistance level at 1.67149 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Matching Low’ candle chart pattern is detected. The candles show ‘Matching Low’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.67149 |
| Current Price | 1.66822 |
| Next Low | 1.65662 |
| 2nd Low | 1.64748 |
| 3rd Low | 1.63613 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low