EUR/AUD – 1H – BUY

The pair Euro/Australian Dollar (EUR/AUD) jumps from the descending trendline up.

A bullish ascent up to the next resistance at 1.78170 is likely expected.

Caution: A possible change in the direction of the support level at 1.77107 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bearish trend broke through the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 1.781645 at the Fibonacci level 0.5-Level. Caution: A possible change in the direction of resistance at 1.78170 should be noted.
In case of a trade, appropriate stop-loss settings should be considered.

Also there is a ‘Northern Doji’ candle chart pattern is existing. The candles form ‘Northern Doji’. this is a bullish pattern signal. The currency pair is likely to rise. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the likelyhood of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).

Also there is a ‘Support Level’ indicator layout is detected. The indicator is ‘Support Level’. which could be a positive chart signal. The pair is likely to go up.

1.78170 – 1.78129 – 1.78691 – 1.77107 – 1.77240 – 1.76501

Download EUR/AUD Signal Image

Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji