EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline down.
A continuation of the downward movement downwards to the next support line at 1.61685 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.62402 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend will persist. Target of the current trend is 1.620535 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support zone at 1.62402 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Matching Low’ chart pattern is detected. The chart shows ‘Matching Low’. which is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62524 |
| 2nd High | 1.62494 |
| Next High | 1.62402 |
| Current Price | 1.62204 |
| Next Low | 1.61685 |
| 2nd Low | 1.61583 |
| 3rd Low | 1.61260 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low