The combination Euro/Australian Dollar (EUR/AUD) breaks through the descending trendline up.
A bullish movement up to the next resistance level at 1.75866 is likely expected.
Caution: A possible trend reversal in the direction of the support zone at 1.74843 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Correction of the major bearish trend broke the Fibonacci 0.24-Level.Continuation of the current ascending trend is likely expected. Current target is 1.76072 at the Fibonacci level 0.5-Level. Caution: A possible trend reversal in the direction of resistance at 1.75866 could occur.
In the case of a trade, always set appropriate stop-loss settings.
Next a ‘Exponential Moving Average 50 (EMA 50)’ indicator signal is discovered. The indicator is ‘Exponential Moving Average 50 (EMA 50)’. which could be a positive signal. The currency pair could go up.
Next a ‘Northern Doji’ candle chart pattern is detected. The candles show ‘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 chance of ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
Next a ‘Resistance Level’ indicator layout is existing. The indicator shows ‘Resistance Level’. which is often a bullish chart scenario. The pair is likely to go up.
Support & Resistance | Price Range* |
---|---|
3rd High | 1.77520 |
2nd High | 1.76719 |
Next High | 1.75866 |
Current Price | 1.75642 |
Next Low | 1.74843 |
2nd Low | 1.74712 |
3rd Low | 1.74624 |
1.75312 – 1.75866 – 1.76719 – 1.74843 – 1.74712 – 1.74624
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji