EUR/AUD – 4H – BUYThe pair Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A descending movement down to the next support at 1.63504 is expected.
Caution: A possible trend reversal in the direction of the resistance zone at 1.65604 is also possible.
Consider stop-loss settings accordingly.
Next a ‘Three White Soldiers’ chart pattern is detected. The chart shows ‘Three White Soldiers’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Three White Soldiers’ heading up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.65998 |
| Next High | 1.65604 |
| Current Price | 1.65222 |
| Next Low | 1.63504 |
| 2nd Low | 1.61583 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers