EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the ascending trendline upwards
A continuation of the uptrend upwards to the next resistance line at 1.64969 will persist.
Caution: A possible change in the direction of the support zone at 1.63342 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Three Outside Up’ candlestick pattern is existing. The candles show ‘Three Outside Up’. which is a positive chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65429 |
| Next High | 1.64969 |
| Current Price | 1.64593 |
| Next Low | 1.63342 |
| 2nd Low | 1.63237 |
| 3rd Low | 1.61957 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up