EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline upwards
The bullish trend upwards to the next resistance line at 1.62376 will continue.
Caution: A possible trend reversal in the direction of the support level at 1.61689 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three White Soldiers’ candlestick pattern is discovered. The chart shows ‘Three White Soldiers’. which 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 ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62792 |
| 2nd High | 1.62449 |
| Next High | 1.62376 |
| Current Price | 1.62441 |
| Next Low | 1.61689 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.60040 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers