EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.
A bullish ascent upwards to the next resistance level at 1.63070 is expected.
Caution: A possible trend reversal in the direction of the support line at 1.61689 could be enabled.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candlestick chart pattern is existing. The candles form ‘Three White Soldiers’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64969 |
| 2nd High | 1.63611 |
| Next High | 1.63070 |
| Current Price | 1.62374 |
| Next Low | 1.61689 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers