EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
A descending movement downwards to the next support line at 1.66311 is expected.
Caution: A possible counter-trend in the direction of the resistance line at 1.67010 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Besides a ‘Matching Low’ chart pattern is detected. The chart shows ‘Matching Low’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67087 |
| 2nd High | 1.67049 |
| Next High | 1.67010 |
| Current Price | 1.67402 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low