EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance at 1.62524 is likely expected.
Caution: A possible reversal of the trend in the direction of support at 1.62090 is also possible.
Consider stop-loss settings accordingly.
Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.62369 at the Fibonacci level 0.5-Level. Caution: A possible reversal of the trend in the direction of resistance at 1.62524 is also possible.
Consider stop-loss settings accordingly.
Moreover a ‘Three White Soldiers’ candle pattern is discovered. The candles form ‘Three White Soldiers’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.63070 |
| 2nd High | 1.62743 |
| Next High | 1.62524 |
| Current Price | 1.62221 |
| Next Low | 1.62090 |
| 2nd Low | 1.61995 |
| 3rd Low | 1.61689 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers