EUR/AUD – 4H – BUYThe pair Euro/Australian Dollar (EUR/AUD) goes from the ascending trendline down.
A descending movement downwards to the next support at 1.76501 will continue.
Caution: A possible change in the direction of the resistance line at 1.80162 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend halted around the Fibonacci 0.24-Level.Continuation of the current descending trend will continue. Current target is 1.76501 at the Fibonacci level 0-Level. Caution: A possible change in the direction of the support level at 1.80162 is within the realm of possibility.
In the case of a trade, always set appropriate stop-loss settings.
Additionally a ‘Northern Doji’ chart pattern is existing. The candles form ‘Northern Doji’. which 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’ going up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.85570 |
| 2nd High | 1.84480 |
| Next High | 1.80162 |
| Current Price | 1.78525 |
| Next Low | 1.76501 |
| 2nd Low | 1.71120 |
| 3rd Low | 1.70493 |
1.80162 – 1.84480 – 1.85570 – 1.76501 – 1.77609 – 1.77156
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji