EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A descending movement down to the next support line at 1.66311 is likely expected.
Caution: A possible change in the direction of the resistance level at 1.66790 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Engulfing’ candlestick pattern is discovered. The chart forms ‘Bullish Engulfing’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67049 |
| 2nd High | 1.67010 |
| Next High | 1.66790 |
| Current Price | 1.66684 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.66040 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing