EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
A descent down to the next support level at 1.63504 will persist.
Caution: A possible trend reversal in the direction of the resistance level at 1.65604 could happen.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candle chart pattern is found. The chart shows ‘Matching Low’. this 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 probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65604 |
| Current Price | 1.64566 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low