EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
An ascent upwards to the next resistance at 1.66036 will persist.
Caution: A possible trend reversal in the direction of the support level at 1.65464 could be enabled.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke the Fibonacci 0-Level.Continuation of the current ascending trend will persist. Target of the current trend is 1.65776936 at the Fibonacci level 0.24-Level. Caution: A possible trend reversal in the direction of resistance at 1.66036 could be enabled.
Consider stop-loss settings accordingly.
There is also a ‘Bearish SBS White Lines’ chart pattern is found. The candles form ‘Bearish SBS White Lines’. 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 ‘Bearish SBS White Lines’ going down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.66533 |
| 2nd High | 1.66163 |
| Next High | 1.66036 |
| Current Price | 1.65542 |
| Next Low | 1.65464 |
| 2nd Low | 1.65446 |
| 3rd Low | 1.65407 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish SBS White Lines