EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the ascending trendline down.
A bearish descent downwards to the next support at 1.65446 will continue.
Caution: A possible change in the direction of the resistance line at 1.66514 could happen.
Please make appropriate stop-loss settings in the case of a trade.
Then a ‘Hammer’ candle pattern is existing. The candles form ‘Hammer’. which is a bullish chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the probability of ‘Hammer’ going up is 60% (Bull Market) & 59% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66514 |
| Current Price | 1.65965 |
| Next Low | 1.65446 |
| 2nd Low | 1.65407 |
| 3rd Low | 1.65222 |