EUR/AUD – 1H – BUY

The currency pair Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.

An ascent up to the next resistance at 1.78876 is certain.

Caution: A possible counter-trend in the direction of the support level at 1.76997 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Correction of the major bullish trend halted around the Fibonacci 0.5-Level.Continuation of the current ascending trend is certain. Current target is 1.783155 at the Fibonacci level 0.24-Level. Caution: A possible counter-trend in the direction of the resistance line at 1.78876 could be enabled.
In case of a trade, appropriate stop-loss settings should be considered.

Then a ‘Northern Doji’ candlestick pattern is found. The chart forms ‘Northern Doji’. which is a positive signal. The currency pair is likely to go up. 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).

1.78876 – 1.78170 – 1.78129 – 1.76997 – 1.77107 – 1.77240

Download EUR/AUD Signal Image

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