EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) jumps from the bullish trendline downwards
A bearish trend downwards to the next support line at 1.63504 will persist.
Caution: A possible trend reversal in the direction of the resistance zone at 1.65604 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Matching Low’ candlestick chart pattern is detected. The chart forms ‘Matching Low’. which is a positive pattern signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65998 |
| 2nd High | 1.65839 |
| Next High | 1.65604 |
| Current Price | 1.65095 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low