EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A descent downwards to the next support level at 1.65118 will continue.
Caution: A possible reversal of the trend in the direction of the resistance line at 1.65767 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Also there is a ‘Matching Low’ candle pattern is detected. The candles form ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65767 |
| Current Price | 1.65561 |
| Next Low | 1.65118 |
| 2nd Low | 1.64864 |
| 3rd Low | 1.64843 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low