EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) goes from the descending trendline up.
The bullish trend up to the next resistance at 1.78820 is certain.
Caution: A possible trend reversal in the direction of support at 1.76501 could occur.
In case of a trade, appropriate stop-loss settings should be considered.
Furthermore a ‘Northern Doji’ chart pattern is discovered. The chart shows ‘Northern Doji’. which is a bullish chart scenario. 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).
Furthermore a ‘Double top chart pattern’ chart layout is existing. The chart picture shows ‘Double top chart pattern’. which is a negative pattern signal. The currency pair is likely to go down.
Furthermore a ‘Support Level’ indicator signal is existing. The indicator shows ‘Support Level’. which is often a bullish chart signal. The pair is likely to go up.
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.79828 |
| 2nd High | 1.78876 |
| Next High | 1.78820 |
| Current Price | 1.77225 |
| Next Low | 1.76501 |
| 2nd Low | 1.71120 |
| 3rd Low | 1.71044 |
1.78820 – 1.78876 – 1.78170 – 1.76997 – 1.77107 – 1.77240
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji