EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline upwards
An ascending movement up to the next resistance at 1.67700 is expected.
Caution: A possible counter-trend in the direction of the support line at 1.66910 is also possible.
Please make appropriate stop-loss settings in the case of a trade.
In addition a ‘Advance Block’ candle chart pattern is existing. The chart shows ‘Advance Block’. which is a bearish signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Advance Block’ heading down is 64% (Bull Market) & 61% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.68016 |
| Next High | 1.67700 |
| Current Price | 1.67624 |
| Next Low | 1.66910 |
| 2nd Low | 1.66898 |
| 3rd Low | 1.66311 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Advance Block