EUR/AUD – 1H – BUY

The pair Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards

A continuation of the downward movement downwards to the next support line at 1.65662 is expected.

Caution: A possible reversal of the trend in the direction of the resistance level at 1.67149 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 expected. Current target is 1.67149 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 1.67149 could occur.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Three Outside Up’ candle chart pattern is found. The candles show ‘Three Outside Up’. which is a positive 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 Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up