EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.
An ascending movement up to the next resistance at 1.62366 is certain.
Caution: A possible change in the direction of the support level at 1.62006 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Current target is 1.62502 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 1.62366 should always be considered.
In the case of a trade, always set appropriate stop-loss settings.
Furthermore a ‘Three White Soldiers’ candlestick pattern is detected. The candles show ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.62998 |
| 2nd High | 1.62792 |
| Next High | 1.62366 |
| Current Price | 1.62243 |
| Next Low | 1.62006 |
| 2nd Low | 1.61911 |
| 3rd Low | 1.61829 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers