EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline downwards
A continuation of the downtrend down to the next support at 1.65407 is considered certain.
Caution: A possible change in the direction of the resistance level at 1.67762 could occur.
Please make appropriate stop-loss settings in the case of a trade.
Additionally a ‘Bullish Belt Hold’ candlestick pattern is existing. The candles show ‘Bullish Belt Hold’. which is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance 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 | 1.67762 |
| Current Price | 1.66434 |
| Next Low | 1.65407 |
| 2nd Low | 1.65222 |
| 3rd Low | 1.65080 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Bullish Belt Hold