EUR/AUD – 4H – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the bullish trendline up.
A continuation of the bullish trend upwards to the next resistance line at 1.76134 will continue.
Caution: A possible counter-trend in the direction of the support line at 1.74614 could happen.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Northern Doji’ candle chart pattern is found. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78876 |
| 2nd High | 1.77072 |
| Next High | 1.76134 |
| Current Price | 1.77454 |
| Next Low | 1.74614 |
| 2nd Low | 1.73885 |
| 3rd Low | 1.72472 |
1.76134 – 1.77072 – 1.76988 – 1.74614 – 1.74733 – 1.74636
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji