EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
The bullish trend upwards to the next resistance at 1.63716 will continue.
Caution: A possible reversal of the trend in the direction of support at 1.63237 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
And also a ‘Three Outside Up’ chart pattern is detected. The chart shows ‘Three Outside Up’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64969 |
| 2nd High | 1.63924 |
| Next High | 1.63716 |
| Current Price | 1.63636 |
| Next Low | 1.63237 |
| 2nd Low | 1.61957 |
| 3rd Low | 1.61685 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up