EUR/AUD – 1H – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the descending trendline downwards
A continuation of the bearish trend down to the next support level at 1.71963 is certain.
Caution: A possible trend reversal in the direction of the resistance zone at 1.72679 should always be considered.
Please make appropriate stop-loss settings in the case of a trade.
Also there is a ‘Northern Doji’ candle pattern is detected. The chart shows ‘Northern Doji’. which is a positive chart scenario. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Also there is a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bearish chart scenario. The currency pair could go down.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.73065 |
| 2nd High | 1.72969 |
| Next High | 1.72679 |
| Current Price | 1.72398 |
| Next Low | 1.71963 |
| 2nd Low | 1.71421 |
| 3rd Low | 1.70851 |
1.72679 – 1.72397 – 1.72199 – 1.71963 – 1.71421 – 1.71633
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji