EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline up.
A continuation of the uptrend up to the next resistance at 1.66514 is expected.
Caution: A possible reversal of the trend in the direction of support at 1.65446 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Three Outside Up’ chart pattern is existing. The chart shows ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66514 |
| Current Price | 1.66358 |
| Next Low | 1.65446 |
| 2nd Low | 1.65407 |
| 3rd Low | 1.65222 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up