EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline downwards
A bearish trend downwards to the next support at 1.63504 is likely expected.
Caution: A possible reversal of the trend in the direction of resistance at 1.65392 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Three Outside Up’ candlestick chart pattern is existing. The candles form ‘Three Outside Up’. this is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65604 |
| Next High | 1.65392 |
| Current Price | 1.65222 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up