EUR/AUD – 30M – BUYCorrection of the major bearish trend halted around the Fibonacci 0.5-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.62085196 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of the support line at 1.62524 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Matching Low’ candle chart pattern is existing. The chart forms ‘Matching Low’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63070 |
| 2nd High | 1.62743 |
| Next High | 1.62524 |
| Current Price | 1.62202 |
| Next Low | 1.61882 |
| 2nd Low | 1.61689 |
| 3rd Low | 1.61260 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low