EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline upwards
The bullish trend upwards to the next resistance at 1.62850 will continue.
Caution: A possible reversal of the trend in the direction of the support level at 1.62383 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Engulfing’ candle chart pattern is detected. The chart shows ‘Bullish Engulfing’. this is a bullish 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 ‘Bullish Engulfing’ going up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63543 |
| 2nd High | 1.63047 |
| Next High | 1.62850 |
| Current Price | 1.62856 |
| Next Low | 1.62383 |
| 2nd Low | 1.62029 |
| 3rd Low | 1.61911 |