EUR/AUD – 1H – BUY

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

A bullish ascent upwards to the next resistance at 1.62548 is certain.

Caution: A possible counter-trend in the direction of support at 1.61839 could occur.
In the case of a trade, always set appropriate stop-loss settings.

In addition a ‘Three Outside Up’ chart pattern is detected. The chart forms ‘Three Outside Up’. 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 likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

1.62548 – 1.63721 – 1.63348 – 1.61839 – 1.62483 – 1.62796 —
1.62240 – 1.62207 —
37.362398967873 – 43.596042956891 —
– —
1.62548 – 1778094000

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