EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) jumps from the bearish trendline downwards
A continuation of the bearish trend downwards to the next support at 1.65777 is considered certain.
Caution: A possible trend reversal in the direction of resistance at 1.66555 should be noted.
Consider stop-loss settings accordingly.
Besides a ‘Matching Low’ chart pattern is existing. The chart forms ‘Matching Low’. this is a bullish signal. The currency pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Matching Low’ heading up is 61% (Bull & Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66555 |
| Current Price | 1.66304 |
| Next Low | 1.65777 |
| 2nd Low | 1.65446 |
| 3rd Low | 1.65407 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Matching Low