EUR/AUD – 30M – BUYThe pair Euro/Australian Dollar (EUR/AUD) breaks through the ascending trendline up.
A continuation of the upward movement up to the next resistance line at 1.67149 is expected.
Caution: A possible change in the direction of the support level at 1.65803 is also possible.
In case of a trade, appropriate stop-loss settings should be considered.
There is also a ‘Three Outside Up’ candle pattern is detected. The candles show ‘Three Outside Up’. this is a bullish chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Three Outside Up’ going up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | |
| Next High | 1.67149 |
| Current Price | 1.66980 |
| Next Low | 1.65803 |
| 2nd Low | 1.65406 |
| 3rd Low | 1.65118 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up