EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the descending trendline downwards
A continuation of the downward movement downwards to the next support level at 1.61583 is certain.
Caution: A possible change in the direction of the resistance zone at 1.62494 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Moreover a ‘Three White Soldiers’ chart pattern is discovered. The candles form ‘Three White Soldiers’. this is a bullish pattern signal. The 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’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63070 |
| 2nd High | 1.62524 |
| Next High | 1.62494 |
| Current Price | 1.62117 |
| Next Low | 1.61583 |
| 2nd Low | 1.61260 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers