EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A descent down to the next support level at 1.66311 will continue.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.68016 could happen.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Below The Stomach’ chart pattern is discovered. The candles show ‘Below The Stomach’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Below The Stomach’ heading down is 60% (Bull Market) & 65% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.68016 |
| Current Price | 1.67064 |
| Next Low | 1.66311 |
| 2nd Low | 1.66197 |
| 3rd Low | 1.65662 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Below The Stomach