EUR/AUD – 30M – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline downwards
A descending movement down to the next support line at 1.63342 is likely expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.65191 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Matching Low’ candle pattern is detected. The chart shows ‘Matching Low’. which is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65604 |
| Next High | 1.65191 |
| Current Price | 1.63890 |
| Next Low | 1.63342 |
| 2nd Low | 1.63237 |
| 3rd Low | 1.61957 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low