EUR/AUD – 1H – BUY

The combination Euro/Australian Dollar (EUR/AUD) jumps from the bearish trendline downwards

A continuation of the downward movement downwards to the next support line at is considered certain.

Caution: A possible trend reversal in the direction of the resistance line at 1.79828 should always be considered.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Exponential Moving Average 100 (EMA 100)’ indicator layout is detected. The indicator shows ‘Exponential Moving Average 100 (EMA 100)’. which is often a bearish signal. The pair is likely to go down.

Then a ‘On Neck’ candle chart pattern is found. The chart shows ‘On Neck’. which is a bearish pattern signal. The pair is likely to go down. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘On Neck’ heading down is 56% (Bull Market) & 58% (Bear Market).

1.79828 – 1.80162 – 1.79394 – 1.76616 – 1.78910 – 1.78982

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – On Neck