EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance line at 1.63528 is likely expected.
Caution: A possible counter-trend in the direction of the support zone at 1.62621 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Three White Soldiers’ candle pattern is discovered. The chart forms ‘Three White Soldiers’. which is a positive pattern 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 White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65429 |
| 2nd High | 1.64969 |
| Next High | 1.63528 |
| Current Price | 1.63344 |
| Next Low | 1.62621 |
| 2nd Low | 1.62549 |
| 3rd Low | 1.62029 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers