EUR/AUD – 1H – BUY

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

A bullish trend upwards to the next resistance level at 1.63101 is certain.

Caution: A possible reversal of the trend in the direction of the support level at 1.62083 could occur.
Consider stop-loss settings accordingly.

Correction of the major bullish trend halted around the Fibonacci 0.7-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.63485 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.63101 could occur.
Consider stop-loss settings accordingly.

Furthermore a ‘Three Outside Up’ candle chart pattern is existing. The candles form ‘Three Outside Up’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

1.63101 – 1.63499 – 1.65542 – 1.62083 – 1.62493 – 1.62492 —
1.62416 – 1.62294 —
48.62004645223 – 46.004135944706 —
– —
1.63101 – 1773727200

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up – – – – – – – – –