EUR/AUD – 30M – BUYThe currency pair Euro/Australian Dollar (EUR/AUD) breaks through the bullish trendline upwards
A continuation of the bullish trend upwards to the next resistance at 1.72379 is likely expected.
Caution: A possible change in the direction of support at 1.71963 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
Correction of the major bullish trend halted around the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Target of the current trend is 1.72679 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the resistance level at 1.72379 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.
In addition a ‘Northern Doji’ candlestick chart pattern is found. The chart forms ‘Northern Doji’. 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 probability of ‘Northern Doji’ going up is 52% (Bull Market) & 51% (Bear Market).
In addition a ‘Resistance Level’ indicator layout is found. The indicator shows ‘Resistance Level’. this is usually a bullish signal. The currency pair could go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.72969 |
| 2nd High | 1.72679 |
| Next High | 1.72379 |
| Current Price | 1.72607 |
| Next Low | 1.71963 |
| 2nd Low | 1.71421 |
| 3rd Low | 1.70852 |
1.72379 – 1.72679 – 1.72308 – 1.71963 – 1.72030 – 1.71421
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji