EUR/AUD – 1H – BUY

The combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.

A bullish movement up to the next resistance at 1.79967 is considered certain.

Caution: A possible reversal of the trend in the direction of the support level at 1.79184 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Exponential Moving Average 100 (EMA 100)’ indicator signal is detected. The indicator is ‘Exponential Moving Average 100 (EMA 100)’. which could be a positive chart scenario. The currency pair is likely to rise.

Moreover a ‘Resistance Level’ indicator signal is existing. The indicator shows ‘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 considered certain. Current target is 1.79967 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.79967 is within the realm of possibility.
In case of a trade, appropriate stop-loss settings should be considered.

Moreover a ‘Northern Doji’ chart pattern is found. The chart shows ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

1.79967 – 1.79498 – 1.79913 – 1.79184 – 1.78331 – 1.78748 — 51.257841052826 – 55.559701850011 — 58.595846871027 – 61.215025195539 – 63.305656270764 – 60.699986241167

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – – –