EUR/AUD – 4H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the descending trendline up.
A bullish movement upwards to the next resistance line at 1.6595 will continue.
Caution: A possible trend reversal in the direction of the support line at 1.64241 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Bearish SBS White Lines’ candle pattern is detected. The chart shows ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67501 |
| 2nd High | 1.67194 |
| Next High | 1.6595 |
| Current Price | 1.63087 |
| Next Low | 1.64241 |
| 2nd Low | 1.6357 |
| 3rd Low | 1.63504 |
1.6595 – 1.67194 – 1.67501 – 1.64241 – 1.6425 – 1.6626 —
1.65059 – 1.63594 —
43.224240426469 – 25.343235330623 —
– —
1.6595 – 1772740800
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish SBS White Lines – – – – – – – – –