EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline down.
A bearish trend downwards to the next support at 1.63924 is considered certain.
Caution: A possible change in the direction of the resistance line at 1.64317 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Matching Low’ candlestick pattern is found. The candles form ‘Matching Low’. which 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 ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65282 |
| 2nd High | 1.64969 |
| Next High | 1.64317 |
| Current Price | 1.64438 |
| Next Low | 1.63924 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low