EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline down.
A descent downwards to the next support line at 1.65839 is considered certain.
Caution: A possible counter-trend in the direction of the resistance zone at 1.66555 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Above the Stomach’ candlestick pattern is existing. The candles form ‘Above the Stomach’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Above the Stomach’ heading up is 66% (Bull Market) & 67% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67440 |
| 2nd High | 1.67107 |
| Next High | 1.66555 |
| Current Price | 1.66328 |
| Next Low | 1.65839 |
| 2nd Low | 1.65777 |
| 3rd Low | 1.65446 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Above the Stomach