EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline down.
A bearish trend downwards to the next support line at 1.66910 is certain.
Caution: A possible change in the direction of the resistance level at 1.67700 should always be considered.
Consider stop-loss settings accordingly.
And also a ‘Bullish Belt Hold’ candlestick chart pattern is existing. The candles form ‘Bullish Belt Hold’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.68016 |
| Next High | 1.67700 |
| Current Price | 1.67618 |
| Next Low | 1.66910 |
| 2nd Low | 1.66898 |
| 3rd Low | 1.66311 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Belt Hold