EUR/AUD – 1H – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline downwards
A bearish trend downwards to the next support at 1.63504 is expected.
Caution: A possible counter-trend in the direction of the resistance level at 1.65392 is also possible.
Consider stop-loss settings accordingly.
There is also a ‘Matching Low’ candle chart pattern is discovered. The candles form ‘Matching Low’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ going up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65604 |
| Next High | 1.65392 |
| Current Price | 1.65356 |
| Next Low | 1.63504 |
| 2nd Low | 1.63342 |
| 3rd Low | 1.63237 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low