EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline upwards
A bullish movement upwards to the next resistance at 1.65204 is certain.
Caution: A possible counter-trend in the direction of the support zone at 1.64748 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
In addition a ‘Bearish SBS White Lines’ candle chart pattern is detected. The chart shows ‘Bearish SBS White Lines’. which is a negative chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bearish SBS White Lines’ heading down is 56% (Bull Market) & 57% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.65839 |
| 2nd High | 1.65767 |
| Next High | 1.65204 |
| Current Price | 1.65231 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bearish SBS White Lines