EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A bearish trend down to the next support level at 1.65662 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.67149 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend broke through the Fibonacci 0.24-Level.Continuation of the current descending trend is certain. Current target is 1.65381 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of the support level at 1.67149 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
There is also a ‘Matching Low’ candle pattern is existing. The chart shows ‘Matching Low’. this 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 probability of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.67149 |
| Current Price | 1.66272 |
| Next Low | 1.65662 |
| 2nd Low | 1.64748 |
| 3rd Low | 1.63613 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low