The pair Euro/Australian Dollar (EUR/AUD) goes from the bearish trendline down.
A continuation of the bearish trend downwards to the next support at 1.66898 will continue.
Caution: A possible change in the direction of resistance at 1.67700 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend will continue. Target of the current trend is 1.67586716 at the Fibonacci level 0.24-Level. Caution: A possible change in the direction of resistance at 1.67700 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.
Also there is a ‘Bullish Belt Hold’ candle pattern is existing. The candles show ‘Bullish Belt Hold’. this is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Bullish Belt Hold’ heading up is 71% (Bull Market) & 71% (Bear Market).
Support & Resistance | Price Range* |
---|---|
3rd High | |
2nd High | 1.68016 |
Next High | 1.67700 |
Current Price | 1.67365 |
Next Low | 1.66898 |
2nd Low | 1.66311 |
3rd Low | 1.66197 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Belt Hold