EUR/AUD – 30M – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the bullish trendline upwards
A continuation of the uptrend upwards to the next resistance at 1.67046 is likely expected.
Caution: A possible reversal of the trend in the direction of the support level at 1.66040 could occur.
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 likely expected. Current target is 1.67149 at the Fibonacci level 0-Level. Caution: A possible reversal of the trend in the direction of the resistance level at 1.67046 could occur.
Consider stop-loss settings accordingly.
Additionally a ‘Three White Soldiers’ candle pattern is detected. The candles form ‘Three White Soldiers’. which is a positive chart scenario. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Three White Soldiers’ going up is 82%.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.67149 |
| Next High | 1.67046 |
| Current Price | 1.66887 |
| Next Low | 1.66040 |
| 2nd Low | 1.65662 |
| 3rd Low | 1.65406 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three White Soldiers