EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
An ascent up to the next resistance level at 1.76635 is likely expected.
Caution: A possible change in the direction of the support line at 1.7626 is within the realm of possibility.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ candle chart pattern is discovered. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78991 |
| 2nd High | 1.78759 |
| Next High | 1.76635 |
| Current Price | 1.76120 |
| Next Low | 1.7626 |
| 2nd Low | 1.74973 |
| 3rd Low | 1.74614 |
1.76635 – 1.78759 – 1.78991 – 1.76543 – 1.77854 – 1.78136 — 38.231218913283 – 39.280050246106 — 7.0163865192807 – 10.828514008429 – 10.940339170128 – 10.28917359845
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Double bottom chart pattern – –