EUR/AUD – 30M – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the downward movement downwards to the next support at 1.61685 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.62402 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
And also a ‘Matching Low’ chart pattern is found. The candles show ‘Matching Low’. this is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62524 |
| 2nd High | 1.62494 |
| Next High | 1.62402 |
| Current Price | 1.62220 |
| Next Low | 1.61685 |
| 2nd Low | 1.61583 |
| 3rd Low | 1.61260 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low