EUR/AUD – 4H – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A descent down to the next support level at 1.63613 is considered certain.
Caution: A possible trend reversal in the direction of the resistance line at 1.68016 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three White Soldiers’ chart pattern is existing. The candles form ‘Three White Soldiers’. which is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.67618 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers