EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the bullish trendline down.
The bearish trend downwards to the next support at 1.66390 is certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.67008 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bearish trend halted around the Fibonacci 0.79-Level.Continuation of the current descending trend is certain. Target of the current trend is 1.66642 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the support level at 1.67008 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Next a ‘Matching Low’ chart pattern is detected. The chart forms ‘Matching Low’. 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 ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67087 |
| 2nd High | 1.67049 |
| Next High | 1.67008 |
| Current Price | 1.66791 |
| Next Low | 1.66390 |
| 2nd Low | 1.66386 |
| 3rd Low | 1.66197 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low