EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the bullish trendline down.
A descending movement down to the next support line at 1.63342 will persist.
Caution: A possible change in the direction of the resistance level at 1.64969 is within the realm of possibility.
Consider stop-loss settings accordingly.
Besides a ‘Bullish Meeting Lines’ candle pattern is discovered. The candles show ‘Bullish Meeting Lines’. which is a positive signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Bullish Meeting Lines’ going up is 56% (Bull Market) & 52% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65429 |
| Next High | 1.64969 |
| Current Price | 1.64043 |
| Next Low | 1.63342 |
| 2nd Low | 1.63237 |
| 3rd Low | 1.61957 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Meeting Lines