EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) breaks through the bearish trendline up.
An ascent up to the next resistance line at 1.66555 will continue.
Caution: A possible counter-trend in the direction of the support zone at 1.65777 could be enabled.
Consider stop-loss settings accordingly.
Besides a ‘Tweezers Bottom’ candle chart pattern is existing. The candles show ‘Tweezers Bottom’. this is a bullish chart scenario. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Tweezers Bottom’ going up is 52% (Bull Market) & 56% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.68016 |
| 2nd High | 1.67762 |
| Next High | 1.66555 |
| Current Price | 1.66283 |
| Next Low | 1.65777 |
| 2nd Low | 1.65446 |
| 3rd Low | 1.65407 |
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Tweezers Bottom