Buy EUR/AUD – 1H – BUY

The pair Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.

An ascent upwards to the next resistance line at 1.61330 will continue.

Caution: A possible reversal of the trend in the direction of the support line at 1.59661 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend will continue. Current target is 1.612265 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of the resistance zone at 1.61330 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.

Also there is a ‘Three White Soldiers’ chart pattern is existing. The candles form ‘Three White Soldiers’. this is a bullish 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 1.62792
2nd High 1.62366
Next High 1.61330
Current Price 1.60610
Next Low 1.59661
2nd Low
3rd Low

Download EUR/AUD Signal Image

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