EUR/AUD – 1H – BUYNext a ‘Double bottom chart pattern’ chart pattern is detected. The formation shows ‘Double bottom chart pattern’. which is a bullish signal. The currency pair is likely to go up.
The combination Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline upwards
An ascending movement upwards to the next resistance at 1.78259 is considered certain.
Caution: A possible change in the direction of the support level at 1.77652 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Northern Doji’ candle chart pattern is found. The candles form ‘Northern Doji’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78991 |
| 2nd High | 1.78759 |
| Next High | 1.78259 |
| Current Price | 1.78357 |
| Next Low | 1.77652 |
| 2nd Low | 1.76221 |
| 3rd Low | 1.76018 |
1.78259 – 1.77666 – 1.76682 – 1.77652 – 1.76221 – 1.76018 — 62.731994664239 – 66.281995659793 — 88.051654130334 – 90.152876700171 – 81.408436183628 – 85.690043052664
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji – Double bottom chart pattern – –