EUR/AUD – 4H – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards
A descending movement down to the next support line at 1.63613 will persist.
Caution: A possible counter-trend in the direction of resistance at 1.67087 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Three Outside Up’ candlestick pattern is found. The candles show ‘Three Outside Up’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.67149 |
| Next High | 1.67087 |
| Current Price | 1.66929 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up