EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
A bearish movement downwards to the next support level at 1.66064 is considered certain.
Caution: A possible change in the direction of the resistance zone at 1.66641 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
And also a ‘Bullish Engulfing’ candlestick chart pattern is discovered. The chart forms ‘Bullish Engulfing’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66641 |
| Current Price | 1.66177 |
| Next Low | 1.66064 |
| 2nd Low | 1.65777 |
| 3rd Low | 1.65446 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing