EUR/AUD – 4H – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
The bearish trend downwards to the next support at 1.77156 is considered certain.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.84480 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is considered certain. Current target is 1.82011828 at the Fibonacci level 0.24-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 1.84480 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Next a ‘Northern Doji’ candle chart pattern is detected. The candles show ‘Northern Doji’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.85570 |
| Next High | 1.84480 |
| Current Price | 1.78261 |
| Next Low | 1.77156 |
| 2nd Low | 1.76975 |
| 3rd Low | 1.71120 |
1.84480 – 1.85570 – 1.84207 – 1.77156 – 1.76975 – 1.71120
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji