EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline upwards
An ascending movement up to the next resistance line at 1.63499 will continue.
Caution: A possible trend reversal in the direction of the support line at 1.62493 could happen.
Consider stop-loss settings accordingly.
Besides a ‘MACD crosses above signal’ indicator layout is found. The indicator shows ‘MACD crosses above signal’. this is usually a bullish chart signal. The currency pair is likely to rise.
Besides a ‘Latter Bottom’ candlestick pattern is discovered. The candles show ‘Latter Bottom’. which is a positive pattern signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Latter Bottom’ going up is 56% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65688 |
| 2nd High | 1.65542 |
| Next High | 1.63499 |
| Current Price | 1.62535 |
| Next Low | 1.62493 |
| 2nd Low | 1.62492 |
| 3rd Low | 1.61282 |
1.63499 – 1.65542 – 1.65688 – 1.62493 – 1.62492 – 1.61282 —
1.62451 – 1.62576 —
38.690939211713 – 42.80201005496 —
– —
1.63499 – 1773442800
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Latter Bottom – – – – – – – – –