EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance at 1.66790 is likely expected.
Caution: A possible counter-trend in the direction of support at 1.66311 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three Outside Up’ chart pattern is existing. The chart shows ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67049 |
| 2nd High | 1.67010 |
| Next High | 1.66790 |
| Current Price | 1.66929 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.66040 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up