EUR/AUD – 30M – BUYBesides a ‘Double top retreat up’ chart formation is detected. The formation shows ‘Double top retreat up’. this is a bullish signal. The currency pair is likely to rise.
The currency pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline upwards
A bullish ascent upwards to the next resistance at 1.77565 is expected.
Caution: A possible counter-trend in the direction of the support level at 1.75118 is also possible.
Consider stop-loss settings accordingly.
Besides a ‘Northern Doji’ candlestick pattern is detected. The chart shows ‘Northern Doji’. which is a positive pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78401 |
| 2nd High | 1.78228 |
| Next High | 1.77565 |
| Current Price | 1.76917 |
| Next Low | 1.75118 |
| 2nd Low | 1.74973 |
| 3rd Low | 1.74614 |
1.77565 – 1.78228 – 1.78401 – 1.76883 – 1.77355 – 1.77220
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji