EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline downwards
A continuation of the bearish trend down to the next support line at 1.61882 is certain.
Caution: A possible counter-trend in the direction of resistance at 1.62324 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Matching Low’ candle pattern is discovered. The candles form ‘Matching Low’. which 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 success rate of a ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62743 |
| 2nd High | 1.62524 |
| Next High | 1.62324 |
| Current Price | 1.61897 |
| Next Low | 1.61882 |
| 2nd Low | 1.61689 |
| 3rd Low | 1.61260 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low