EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
The bearish trend down to the next support level at 1.62029 is considered certain.
Caution: A possible counter-trend in the direction of resistance at 1.63109 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Target of the current trend is 1.63109 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at 1.63109 could happen.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Three White Soldiers’ candlestick pattern is detected. The candles show ‘Three White Soldiers’. 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 ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65429 |
| 2nd High | 1.64969 |
| Next High | 1.63109 |
| Current Price | 1.62975 |
| Next Low | 1.62029 |
| 2nd Low | 1.61829 |
| 3rd Low | 1.61620 |