EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards
The bearish trend downwards to the next support level at 1.65446 is certain.
Caution: A possible trend reversal in the direction of the resistance level at 1.66555 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Then a ‘Three Outside Up’ candle chart pattern is discovered. The chart forms ‘Three Outside Up’. which is a bullish pattern 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 | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66555 |
| Current Price | 1.66067 |
| Next Low | 1.65446 |
| 2nd Low | 1.65407 |
| 3rd Low | 1.65222 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up