EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline downwards
A descending movement downwards to the next support at 1.64748 will continue.
Caution: A possible change in the direction of resistance at is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Moreover a ‘Bullish Tri-Star’ chart pattern is discovered. The candles show ‘Bullish Tri-Star’. which is a bullish signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Tri-Star’ heading up is 60% (Bull Market) & 55% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.66214 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Tri-Star