EUR/AUD – 30M – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance line at is certain.
Caution: A possible counter-trend in the direction of the support level at 1.67300 could happen.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0-Level.Continuation of the current ascending trend is certain. Current target is 1.6771 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of resistance at could happen.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Up’ candlestick pattern is found. The candles show ‘Three Outside Up’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | |
| Current Price | 1.67828 |
| Next Low | 1.67300 |
| 2nd Low | 1.67217 |
| 3rd Low | 1.66311 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up