EUR/AUD – 30M – BUY

The pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.

An ascent up to the next resistance level at 1.79344 is expected.

Caution: A possible trend reversal in the direction of the support line at 1.78103 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘%K crosses above %D’ indicator layout is discovered. The indicator shows ‘%K crosses above %D’. this is usually a bullish chart signal. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is expected. Current target is 1.78676 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 1.79344 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Northern Doji’ chart pattern is discovered. The candles form ‘Northern Doji’. 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 success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

1.78418 – 1.79344 – 1.79101 – 1.78103 – 1.78143 – 1.78008 —
1.78218 – 1.78378 —
34.087616223303 – 44.958525700668 —
1.78103 – 1764032400 —
1.78418 – 1763956800

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Symmetrical Triangle Chart Pattern – – – – – – – –