EUR/AUD – 1H – BUYAnd also a ‘Double bottom chart pattern’ chart pattern is found. The chart shows ‘Double bottom chart pattern’. which is a positive signal. The currency pair is likely to rise.
The pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
A bullish movement upwards to the next resistance line at 1.78759 is considered certain.
Caution: A possible counter-trend in the direction of the support level at 1.77991 could occur.
Consider stop-loss settings accordingly.
And also a ‘Bullish Belt Hold’ chart pattern is existing. The chart shows ‘Bullish Belt Hold’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79759 |
| 2nd High | 1.78991 |
| Next High | 1.78759 |
| Current Price | 1.78981 |
| Next Low | 1.77991 |
| 2nd Low | 1.77282 |
| 3rd Low | 1.7626 |
1.78759 – 1.78991 – 1.79759 – 1.77991 – 1.78522 – 1.78644 — 35.823736388664 – 61.749718877699 — 37.673196810774 – 45.202286475387 – 55.108581133364 – 48.364865469639
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Belt Hold – Double bottom chart pattern – –