EUR/AUD – 30M – BUYThe currency pair breaks through the bearish trendline up.
A bullish trend up to the next resistance level at 1.62850 is certain.
Caution: A possible change in the direction of the support level at 1.62029 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 1.6285 at the Fibonacci level 0-Level. Caution: A possible change in the direction of resistance at 1.62850 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Three White Soldiers’ candlestick chart pattern is existing. The chart shows ‘Three White Soldiers’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63543 |
| 2nd High | 1.63047 |
| Next High | 1.62850 |
| Current Price | 1.62672 |
| Next Low | 1.62029 |
| 2nd Low | 1.61911 |
| 3rd Low | 1.61829 |