EUR/AUD – 30M – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance level at 1.61961 will continue.
Caution: A possible counter-trend in the direction of the support level at 1.61282 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
Additionally a ‘Three Outside Up’ candlestick chart pattern is existing. The chart shows ‘Three Outside Up’. which is a positive signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.64582 |
| 2nd High | 1.63166 |
| Next High | 1.61961 |
| Current Price | 1.61887 |
| Next Low | 1.61282 |
| 2nd Low | |
| 3rd Low |
1.61961 – 1.63166 – 1.64582 – 1.61282 – 1.62683 – 1.64116 —
1.61923 – 1.61787 —
45.057837738759 – 44.67476253055 —
– —
1.61961 – 1773282600
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up – Rising Wedge Chart Pattern – – – – – – – –