EUR/AUD – 30M – BUYCorrection of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is expected. Current target is 1.66328 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of the resistance zone at 1.67107 should always be considered.
Consider stop-loss settings accordingly.
Moreover a ‘Three Outside Up’ candle pattern is detected. The candles form ‘Three Outside Up’. 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 ‘Three Outside Up’ heading up is 75% (Bull Market) & 74% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.67762 |
| 2nd High | 1.67440 |
| Next High | 1.67107 |
| Current Price | 1.65762 |
| Next Low | 1.65080 |
| 2nd Low | 1.64894 |
| 3rd Low | 1.64864 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Three Outside Up