EUR/AUD – 30M – BUYBesides a ‘Falling Wedge Chart Pattern’ chart formation is detected. The chart picture forms ‘Falling Wedge Chart Pattern’. which is a bullish signal. The currency pair is likely to rise.
The combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance line at 1.77512 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.76260 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Support Level’ indicator layout is discovered. The indicator is ‘Support Level’. this is usually a bullish signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78228 |
| 2nd High | 1.77565 |
| Next High | 1.77512 |
| Current Price | 1.77590 |
| Next Low | 1.76260 |
| 2nd Low | 1.75118 |
| 3rd Low | 1.74973 |
1.77512 – 1.77565 – 1.78228 – 1.76260 – 1.76771 – 1.76632