EUR/AUD – 4H – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline downwards
A bearish descent down to the next support at 1.61583 will continue.
Caution: A possible counter-trend in the direction of resistance at 1.65604 could occur.
Consider stop-loss settings accordingly.
Furthermore a ‘Three White Soldiers’ candle pattern is discovered. The chart forms ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.65998 |
| Next High | 1.65604 |
| Current Price | 1.65168 |
| Next Low | 1.61583 |
| 2nd Low | 1.59661 |
| 3rd Low |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers