EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the bullish trendline up.
A continuation of the uptrend up to the next resistance line at 1.67149 is certain.
Caution: A possible reversal of the trend in the direction of the support line at 1.65662 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Three Outside Up’ candlestick chart pattern is discovered. The chart shows ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.67149 |
| Current Price | 1.66761 |
| Next Low | 1.65662 |
| 2nd Low | 1.64748 |
| 3rd Low | 1.63613 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up