EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.
A bullish ascent up to the next resistance level at 1.65767 is considered certain.
Caution: A possible reversal of the trend in the direction of support at 1.64748 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is considered certain. Current target is 1.65767 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.65767 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Then a ‘Three White Soldiers’ candle pattern is detected. The candles show ‘Three White Soldiers’. 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 ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65767 |
| Current Price | 1.65407 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers