The pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards
A continuation of the downtrend downwards to the next support level at 1.63027 is considered certain.
Caution: A possible reversal of the trend in the direction of resistance at 1.65077 could be enabled.
Consider stop-loss settings accordingly.
Then a ‘Matching Low’ candlestick chart pattern is detected. The chart shows ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.66898 |
| 2nd High | 1.66183 |
| Next High | 1.65077 |
| Current Price | 1.63775 |
| Next Low | 1.63027 |
| 2nd Low | 1.61894 |
| 3rd Low | 1.61104 |
1.65077 – 1.66183 – 1.64535 – 1.6433 – 1.64866 – 1.63027 —
1.63962 – 1.64195 —
43.607939268331 – 51.121960762201 —
– —
1.65077 – 1783512000
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low – – – – – – – – –