EUR/AUD – 30M – SELLAnd also a ‘Double top retreat up’ chart layout is found. The chart picture forms ‘Double top retreat up’. this is a bullish pattern signal. The currency pair is likely to go up.
The combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A descending movement down to the next support at 1.78902 will persist.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.79735 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Bullish Engulfing’ candlestick pattern is found. The candles form ‘Bullish Engulfing’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79833 |
| 2nd High | 1.79739 |
| Next High | 1.79735 |
| Current Price | 1.78958 |
| Next Low | 1.78902 |
| 2nd Low | 1.78332 |
| 3rd Low | 1.78112 |
1.79735 – 1.79641 – 1.79739 – 1.78902 – 1.78987 – 1.78332
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing – Double top retreat up