EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
The bullish trend upwards to the next resistance at 1.62524 is likely expected.
Caution: A possible trend reversal in the direction of the support level at 1.61689 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Three White Soldiers’ candlestick pattern is found. The chart shows ‘Three White Soldiers’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63611 |
| 2nd High | 1.63070 |
| Next High | 1.62524 |
| Current Price | 1.62025 |
| Next Low | 1.61689 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers