EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) jumps from the ascending trendline downwards
A descent downwards to the next support at 1.64748 is expected.
Caution: A possible change in the direction of the resistance line at 1.67762 is also possible.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Two-Candle Shooting Star’ candle chart pattern is found. The candles show ‘Two-Candle Shooting Star’. this is a bearish chart scenario. The currency pair is likely to fall. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Two-Candle Shooting Star’ going down is 61% (Bull Market) & 58% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | |
| 2nd High | 1.68016 |
| Next High | 1.67762 |
| Current Price | 1.65507 |
| Next Low | 1.64748 |
| 2nd Low | 1.63613 |
| 3rd Low | 1.63504 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Two-Candle Shooting Star