EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
The bearish trend downwards to the next support line at 1.66390 will continue.
Caution: A possible change in the direction of the resistance zone at 1.67008 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Bullish Engulfing’ chart pattern is found. The candles show ‘Bullish Engulfing’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67087 |
| 2nd High | 1.67049 |
| Next High | 1.67008 |
| Current Price | 1.66887 |
| Next Low | 1.66390 |
| 2nd Low | 1.66386 |
| 3rd Low | 1.66197 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing