EUR/AUD – 4H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline down.
A bearish movement down to the next support at 1.63613 will continue.
Caution: A possible change in the direction of the resistance zone at 1.67149 could be enabled.
In the case of a trade, always set appropriate stop-loss settings.
There is also a ‘Bullish Engulfing’ candlestick pattern is detected. The candles show ‘Bullish Engulfing’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Bullish Engulfing’ heading up is 63%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.67149 |
| Current Price | 1.67147 |
| Next Low | 1.63613 |
| 2nd Low | 1.63504 |
| 3rd Low | 1.61583 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Engulfing