EUR/AUD – 4H – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline downwards
A descent down to the next support line at 1.63504 is expected.
Caution: A possible counter-trend in the direction of the resistance zone at 1.65767 could be enabled.
Please make appropriate stop-loss settings in the case of a trade.
Furthermore a ‘Matching Low’ chart pattern is found. The chart forms ‘Matching Low’. which is a bullish pattern signal. The 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 | |
| 2nd High | 1.65998 |
| Next High | 1.65767 |
| Current Price | 1.64438 |
| Next Low | 1.63504 |
| 2nd Low | 1.61583 |
| 3rd Low | 1.59661 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low