EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
A bearish trend downwards to the next support level at 1.62756 is expected.
Caution: A possible trend reversal in the direction of the resistance level at 1.63611 could be enabled.
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 expected. Current target is 1.6308 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the resistance level at 1.63611 could be enabled.
Consider stop-loss settings accordingly.
And also a ‘Bullish Engulfing’ candle chart pattern is found. The chart shows ‘Bullish Engulfing’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65282 |
| 2nd High | 1.64969 |
| Next High | 1.63611 |
| Current Price | 1.62803 |
| Next Low | 1.62756 |
| 2nd Low | 1.62621 |
| 3rd Low | 1.62549 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing