EUR/AUD – 1H – BUYThe combination Euro/Australian Dollar (EUR/AUD) moves from the bearish trendline downwards
A continuation of the downward movement down to the next support line at 1.73858 will persist.
Caution: A possible reversal of the trend in the direction of the resistance level at 1.75754 could occur.
Consider stop-loss settings accordingly.
And also a ‘Northern Doji’ candle chart pattern is found. The chart forms ‘Northern Doji’. which is a bullish signal. The pair is likely to go up. According to the Encyclopedia of Candlestick Charts by Thomas N. Bulkowski, the success rate of a ‘Northern Doji’ heading up is 52% (Bull Market) & 51% (Bear Market).
| Support & Resistance | Price Range* |
|---|---|
| 3rd High | 1.78820 |
| 2nd High | 1.77520 |
| Next High | 1.75754 |
| Current Price | 1.75251 |
| Next Low | 1.73858 |
| 2nd Low | 1.71120 |
| 3rd Low | 1.71044 |
1.75754 – 1.77520 – 1.78820 – 1.73858 – 1.74624 – 1.75938
Trading Signals: FOREX – EUR – EUR/AUD – AUD – Northern Doji