EUR/AUD – 30M – SELLAlso there is a ‘Inverse Head and Shoulder chart pattern’ chart pattern is found. The formation shows ‘Inverse Head and Shoulder chart pattern’. this is a bullish pattern signal. The pair is likely to go up.
The combination Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline down.
A bearish trend downwards to the next support level at 1.78522 will persist.
Caution: A possible trend reversal in the direction of the resistance line at 1.78991 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Northern Doji’ candlestick chart pattern is found. The candles show ‘Northern Doji’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79815 |
| 2nd High | 1.79759 |
| Next High | 1.78991 |
| Current Price | 1.78816 |
| Next Low | 1.78522 |
| 2nd Low | 1.78331 |
| 3rd Low | 1.78112 |
1.78991 – 1.78854 – 1.78937 – 1.78522 – 1.78644 – 1.78971 — 54.306307906501 – 50.231603912331 — 52.489274668263 – 40.377132595031 – 41.872581950403 – 44.47880984846
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Inverse Head and Shoulder chart pattern – –