EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline downwards
A bearish trend downwards to the next support level at 1.63237 is likely expected.
Caution: A possible change in the direction of resistance at 1.63924 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Matching Low’ candlestick chart pattern is found. The chart forms ‘Matching Low’. which is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65282 |
| 2nd High | 1.64969 |
| Next High | 1.63924 |
| Current Price | 1.63507 |
| Next Low | 1.63237 |
| 2nd Low | 1.61957 |
| 3rd Low | 1.61685 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low