EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
The bearish trend down to the next support level at 1.65782 will continue.
Caution: A possible change in the direction of the resistance level at 1.66555 should be noted.
Consider stop-loss settings accordingly.
Additionally a ‘Bullish Belt Hold’ candle chart pattern is found. The candles form ‘Bullish Belt Hold’. this is a bullish pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Belt Hold’ going up is 71% (Bull Market) & 71% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67440 |
| 2nd High | 1.67107 |
| Next High | 1.66555 |
| Current Price | 1.65965 |
| Next Low | 1.65782 |
| 2nd Low | 1.65446 |
| 3rd Low | 1.65407 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Belt Hold