EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline upwards
A bullish trend up to the next resistance level at 1.62366 is considered certain.
Caution: A possible change in the direction of the support zone at 1.61336 should be noted.
Consider stop-loss settings accordingly.
Then a ‘Three White Soldiers’ candle chart pattern is found. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63611 |
| 2nd High | 1.62792 |
| Next High | 1.62366 |
| Current Price | 1.61246 |
| Next Low | 1.61336 |
| 2nd Low | 1.61096 |
| 3rd Low | 1.60989 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers