EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
A bullish ascent upwards to the next resistance level at 1.65204 is certain.
Caution: A possible counter-trend in the direction of the support level at 1.64869 should be noted.
Consider stop-loss settings accordingly.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is certain. Target of the current trend is 1.65204 at the Fibonacci level 0-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.65204 should be noted.
Consider stop-loss settings accordingly.
Next a ‘Three Outside Up’ candle chart pattern is existing. The chart shows ‘Three Outside Up’. 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 success rate of a ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65767 |
| Next High | 1.65204 |
| Current Price | 1.65078 |
| Next Low | 1.64869 |
| 2nd Low | 1.64192 |
| 3rd Low | 1.63974 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up