EUR/AUD – 1H – SELLThen a ‘Double top retreat up’ chart layout is discovered. The chart picture forms ‘Double top retreat up’. which is a positive chart scenario. The currency pair is likely to go up.
The pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
A bearish trend down to the next support line at 1.73814 is considered certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.74378 should be noted.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Tweezers Bottom’ candle chart pattern is discovered. The candles form ‘Tweezers Bottom’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Bottom’ heading up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.74544 |
| 2nd High | 1.74441 |
| Next High | 1.74378 |
| Current Price | 1.73871 |
| Next Low | 1.73814 |
| 2nd Low | 1.72907 |
| 3rd Low | 1.72472 |
1.74378 – 1.74441 – 1.74544 – 1.73814 – 1.73868 – 1.72907 —
1.74255 – 1.73893 —
49.115803438774 – 39.672775102245 —
– —
1.74378 – 1768215600
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Bottom – Double top retreat up – – – – – – – –