EUR/AUD – 1H – BUY

The currency pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline upwards

An ascending movement up to the next resistance line at 1.79967 is likely expected.

Caution: A possible trend reversal in the direction of support at 1.78331 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Exponential Moving Average 50 (EMA 50)’ indicator layout is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. this is usually a bullish chart scenario. The pair is likely to go up.

Additionally a ‘Resistance Level’ indicator layout is found. The indicator is ‘Resistance Level’. this is usually a bullish chart scenario. The pair is likely to go up.

Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 1.79967 at the Fibonacci level 0-Level. Caution: A possible trend reversal in the direction of the resistance zone at 1.79967 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.

Additionally a ‘Northern Doji’ candlestick chart pattern is discovered. The candles show ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).

1.79967 – 1.79498 – 1.79913 – 1.78331 – 1.78748 – 1.79042 — 55.00910248162 – 60.666971312299 — 51.848287545775 – 79.585106578972 – 30.650497650169 – 52.157131439951

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Double bottom retreat down – –