EUR/AUD – 1H – BUYCorrection of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 1.64679116 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 1.65604 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Bearish SBS White Lines’ chart pattern is discovered. The chart forms ‘Bearish SBS White Lines’. this is a bearish chart scenario. The currency pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65604 |
| Current Price | 1.63737 |
| Next Low | 1.63342 |
| 2nd Low | 1.63237 |
| 3rd Low | 1.61957 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish SBS White Lines